Fed Chair Kevin Warsh reiterated opposition to using forward guidance, noting the Fed issued a condensed policy statement removing forward guidance after he took office. He said forward guidance can constrain the central bank’s flexibility to react to new economic developments and discouraged its use, at least in the current environment.

The Ministry of Housing and Urban-Rural Development and other agencies issued the Notice on Improving Commodity Housing Sales System, directing faster implementation of completed-home sales in China’s housing market. The notice sets a unified eligibility standard tying completed-home sales to completion acceptance filing and utilities (water, power, gas, heating) being ready for handover to curb “pseudo-completed” projects and enforce a what-you-see-is-what-you-get rule. Authorities paired the push with land and financial support measures and tightened presale conditions; experts say the package is intended to offset developer funding pressure, steer firms to prioritize completed-home sales, better protect buyers’ rights and help reduce industry risk.

CSI 300 futures (IF) most-active contract down 0.06% at the morning open; SSE 50 futures (IH) down 0.12%; CSI 500 futures (IC) up 0.30%; CSI 1000 futures (IM) up 0.41%.