U.S. Treasury's Yellen Says Cross Border Payments Cooperation With Mexico Is 'Not About China'
Portfolio Pulse from Benzinga Newsdesk
U.S. Treasury Secretary Janet Yellen stated that the cooperation with Mexico on cross-border payments is not aimed at countering China's influence. The collaboration is focused on improving the payment systems for the benefit of both countries. No specific U.S.-listed companies or ETFs were targeted in the cooperation, and the statement was not related to any competitive stance against China.
December 07, 2023 | 7:03 pm
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POSITIVE IMPACT
The cooperation on cross-border payments between the U.S. and Mexico may indirectly benefit EWW, an ETF that tracks the Mexican market, by potentially improving economic transactions.
While the cooperation is not directly related to EWW, improved cross-border payment systems could facilitate trade and economic activity between the U.S. and Mexico, potentially benefiting companies within the EWW ETF.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
NEUTRAL IMPACT
Yellen's statement that the cooperation is not about China suggests no direct impact on FXI, an ETF that tracks Chinese stocks.
Since the cooperation is not aimed at countering China, there is no immediate or direct impact on the FXI ETF, which is focused on Chinese equities.
CONFIDENCE 80
IMPORTANCE 10
RELEVANCE 10
NEUTRAL IMPACT
The statement by Yellen has no specific implications for SPY, an ETF that tracks the S&P 500, as it does not directly relate to U.S. market performance or policies.
The U.S.-Mexico payments cooperation is a specific bilateral issue and does not have a direct bearing on the broad U.S. market or the companies in the S&P 500 represented by SPY.
CONFIDENCE 80
IMPORTANCE 10
RELEVANCE 10