recovered some ground after a sharp selloff on Monday sparked by concerns that President Xi Jinping's new leadership team, revealed on Sunday, will prioritise the state at the cost of the private sector, and keep tough zero-COVID policies in place possibly into next year.
Treasuries have rallied and the yield on benchmark 10-year U.S. government debt was last down 7 bps at around 4.03%.raced to a 32-year high last quarter as the cost of home building and gas surged. The surprise added pressure on the central bank to reverse a recent dovish turn, though markets doubt there will be a dramatic shift.Sterling meanwhile rose to its highest since mid-September at around $1.
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