China stocks rally on investor optimism, but corporate earnings lag

SHANGHAI/BENGALURU (Reuters) - A sharp rally in Chinese stocks this year has been driven more by investor optimism than fundamentals, based on an analysis of corporate earnings estimates in an economy expanding at its slowest pace in 28 years.

As the 2018 earnings reporting season begins for mainland firms, analysts are issuing more downgrades than upgrades for corporate earnings, even as they hope that China’s stimulus plans for the economy kick in.

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Japan market watchdog seeks $1.2 million fine against Citi, alleges JGB manipulation

TOKYO (Reuters) - Japan’s SESC market watchdog said on Tuesday it had recommended a $1.2 million fine against the British unit of Citigroup Inc for alleged manipulation of Japanese government bond (JGB) futures prices.

The incident marks the latest crackdown by Japanese authorities over alleged attempts to manipulate prices in the JGB futures market.

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Shift in Fed dot plot overstated: Harker

FRANKFURT (Reuters) - The shift in the U.S. Federal Reserve’s interest rate projection at its March meeting was not dramatic and the significance of the move is sometimes overstated, Federal Reserve Bank of Philadelphia President Patrick Harker said on Tuesday.

“My dot... didn’t come down that much because I wasn’t up where everybody else was,” Harker told a business meeting about the Fed’s so called “dot plot” of interest rate views. “The median did shift down but it shifted down by one notch; sometimes we overstate how much of a shift that was.”

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US Treasury yields tick higher as investors await economic data, auctions

U.S. government debt prices were lower on Tuesday morning, as investors await a fresh batch of economic data and another round of Treasury auctions.

At around 3:10 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was higher at around 2.4283 percent, while the yield on the 30-year Treasury bond was also higher at 2.8863 percent.

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Flooding woes add to trade war stress in 'Trump country' farm belt

COLUMBUS, Neb./CHICAGO (Reuters) - Nebraska grain farmer Ryan Ueberrhein was barely breaking even after the U.S.-China trade war pushed prices for his soybean crop to a decade low. Then the nearby Elkhorn River burst its banks as flooding swept across the U.S. farm belt.

Uberrhein’s farm was left covered in debris after the roiling water receded. He has mounting debts. And he is worried that President Donald Trump may not be able to strike a trade deal with China that would end tariffs on U.S. soybean exports - and allow him to sell whatever grain is left intact at a better price.

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Dollar Shave's Michael Dubin admits a business built on simplicity can get complicated

When Michael Dubin and Mark Levine founded Dollar Shave Club in 2011, their vision was pure and simple: For as little as $1 a month, customers could get high-quality razors delivered right to their door. DSCs mantra — Stop paying for shave tech you dont need — took a direct shot at the pricey name-brand razors sold in retail stores.

Their back-to-basics approach worked. Some of the biggest names in the venture world, including Kleiner Perkins Caufield & Byers and Andreessen Horowitz, bet big on their vision, providing more than $1 million in a Series A round for the blade subscription service.

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