s well as for the global economic mechanism. Also challenging the sentiment are geopolitical concerns about Russia and the recently firmer US data, which in turn flags fears of the Fed’s rate hike in September even if the interest rate futures suggest no more Fed rate hikes.
As China’s Country Garden pauses its bond trading and a few companies from the Dragon Nation complain about not receiving payments from a subsidiary of Chinese conglomerate Zhongzhi Enterprise Group, the debt woes regain momentum. That said, theof Country Garden’s restructuring of its debt drowned the company’s bonds to record levels and hence pushed the biggest Chinese realtor towards pausing the bond trading.
It should be noted that the firmer US Treasury bond yields and the recently upbeat US data allow the US Dollar Index to remain firmer, which in turn weighs on theTalking about the data, the US Consumer Price Index numbers for July failed to lift the Fed bets for September, suggesting the nearness to the policy pivot. However, the CPI details and other price pressure measures managed to keep the Greenback buyers hopeful.
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