Economists say China needs consumers to spend more to get the economy out of its doldrums, although most have advocated broader, more fundamental reforms such as increasing wages, social welfare and support for public health and education.
In the bond market, Treasury yields rose to recover some of their sharp recent losses. The yield on the 10-year Treasury climbed to 4.30% from 4.27% late Thursday and from 4.16% at the start of last week.
Yields have been swinging since January, when they were approaching 4.80%. When worries worsen about the U.S. economy’s strength, yields have fallen. When those worries lessen, or when concerns about inflation rise, yields have climbed.