China Rare-Earth Magnet Maker Gets Green Light for US Exports
A major Chinese manufacturer of rare-earth magnets received export permits to countries including the US, in a possible sign of easing tensions between Beijing and Washington.
JL Mag Rare-Earth Co. said that officials approved a certain number of export applications, and the company had permits for regions including the US, Europe and Southeast Asia, according to a statement on Wednesday. Its Hong Kong-listed shares surged as much as 12%, hitting the highest intraday level since 2022.
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30 minutes ago
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Trump's agenda faces a $22 billion test from markets
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'If it's a weak auction, we'll probably see yields rise relatively sharply, because that might spook investors,' Martin added, 'and on the flip side, if it ends up being a pretty good auction, that would probably allow the markets to kind of breathe a sigh of relief that, okay, there is enough demand.' There is robust demand for shorter-term Treasuries like 10-year bonds, according to Chip Hughey, managing director for fixed income at Truist Advisory Services. An auction for 10-year Treasuries on Wednesday saw strong demand both for domestic and global investors. Yet investors have shown hesitancy about longer-duration bonds like the 30-year bond, Hughey said. Investors are increasingly uncertain about the long-term outlook for the US debt burden, giving them pause about the risk associated with loaning money to the government over a longer period. 'There certainly is a little bit of hesitancy about taking on a great deal of duration, just given the uncertainty around trade policy and deficits, and also what that would mean for your future debt supply,' Hughey said. 'The 30-year reflects the uncertainties around those more structural questions around budget deficits and the US debt load going forward.' In May, the 30-year yield spiked to its highest level since 2023 after a Treasury auction for 20-year bonds that saw weak demand. Pacific Investment Management Company, a global fixed income firm, said in a Tuesday report that bonds still look relatively attractive and affordable compared to stocks. However, Pimco expects to focus and be 'overweight' to 5- and 10-year bonds, while being less focused and 'underweight' to longer-term bonds. Martin at Charles Schwab said that while concerns about the deficit linger, investors are also assessing factors like inflation and the path of potential Federal Reserve rate cuts. 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