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The ECB just raised its key rates again today, by 25bp (main Refi rate at 4.50%, deposit rate at 4.00%).
It’s been a challenging summer for the Chinese real estate market, as the difficulties faced by Chinese developers continue to cast a shadow over the industry.
Fitch Ratings downgrades the U.S. from AAA to AA+ due to debt ceiling standoffs and ﬁscal concerns. Disagreements arise, but the downgrade reﬂects rising debt and governance issues. Markets react with higher bond yields, prompting a closer look at potential implications for investors.
The possibility of a “technical default” by the US has been raised as the current debt limit for the US government, set by law, is expected to be hit sometime during the summer.
After today’s hike, The Fed Funds rate will have increased by the most amount since the six months ending March 1981.
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