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Chinese stocks and the yuan fell after Moody's cut China's credit rating by one notch to A1 from Aa3, the first downgrade in nearly 30 years. Moody's kept a stable outlook, but it warned that debt will keep rising as potential growth slows.
The Shanghai Composite closed little changed, and 10-year bond yields rose to near a two-year high of 3.68 percent.
Rising debt and slower growth expectations in China can dampen demand for imported feed ingredients over time. The immediate effect on feed prices is limited because the market reaction was modest.
thestreet.comMartin BaccardaxMay 24, 2017After 991 past macro events, Chinese Yuan (CNY per USD) moved a median -0.0% over 5 sessions (49% higher; middle half -0.3% to +0.3%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
