in a Chinese resort island also hit sentiment, while Hong Kong’s move to cut mandatory quarantine failed to ignite much optimism.
Strong US jobs data on Friday added to the case for more Fed monetary tightening. That’s pushed up Treasury yields and the dollar. A key part of the US bond curve is the most inverted since 2000, suggesting investors foresee a recession ahead as the Fed applies the brakes on the economy. Traders now see greater odds of another 75 basis-point Fed hike in September, part of a global wave of rate increases. US inflation data this week could shape views on that policy path and inject more market swings. While price pressures may be topping out, it’s unclear if they will persist at stubbornly high levels.
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