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Renowned Hedge Fund Manager David Tepper Upbeat About CN-Related Investments After Rate Cut
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Renowned hedge fund manager David Tepper noted that he had seen room for action from China following the Fed's larger-than-expected half-point rate cut last week, but the scale of China's proposed measures prompted him to exceed his own self-imposed position limits. He expressed optimism about China's prospects. The People's Bank of China not only cut rates this week but also announced a series of monetary easing measures, while the central government pledged to take further actions. According to a Bloomberg report, the Chinese government is also considering injecting RMB1 trillion (US$142 billion) into large Chinese banks to encourage lending, which led to the latest surge in the stock market. AAStocks Financial News |
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