Following a record injection via the medium-term lending facility yesterday, China's officials unveiled a set of policies designed to support the weakening economy that soon could face a substantial drag from US tariffs. The effort focuses on boosting domestic demand. Measures include targetted tax cuts and accelerating new infrastructure. This is a clear shift away from the deleveraging campaign, and it appears that the State Council dropped the "neutral" characterization of monetary policy. Chinese equities rallied. The Shanghai Composite rose 1.6% for a third consecutive rise. During which time, it is gained ... (full story)