A statue of a bull is displayed outside the Shenzhen Stock Exchange in the southern Chinese city of Shenzhen. File Picture: REUTERS/BOBBY YIP
US treasuries slumped on return from Monday’s US holiday, sending the yield of the 10-year bond up nearly 10 basis points to 2.8405%. “The focus now is really on the US economy and China,” said Khoon Goh, head of Asia research at ANZ Bank in Singapore. “The two largest economies in the world are slowing, for different reasons, and it’s not great for the global growth trajectory.”
Growth concerns have put the brakes on a two-week rally for exporters’ currencies globally and have steadied the US dollar as investors have again leant towards safety.
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