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stock market Dropped On Thursday, due to increased concerns about the global economic outlook, government bonds fluctuated sharply in the previous days, suggesting that growth and inflation were lower than previously expected.

Asian stock markets fell first, then negative sentiment spread to Europe, and then to Wall Street-analysts blamed this move on expectations that US economic growth will peak soon, while China is showing signs of slowing down.

Throughout Wall Street, investors are suddenly forced to think about how to reposition in the context described by Jim Cullen, portfolio manager of Morgan Stanley Investment Management. “Growth peaked, inflation peaked, policy stimulus peaked”.

The US Standard & Poor’s 500 Index closed down 0.9%, while the technology-focused Nasdaq Composite Index fell 0.7%. Both indexes have set records in recent days. In Europe, after the Hong Kong Hang Seng Index closed down 2.9%, the Stoxx Europe 600 Index for the entire continent fell 2%. Spain’s Ibex closed down 2.3%, and Italy’s FTSE MIB fell 2.6%. The FTSE 100 Index fell 1.7%.

Amidst the volatility of the government bond market on Thursday, Robert Armstrong in our Unhedged communications: What made U.S. Treasury yields plummet for so long?registered Here Receive the newsletter in your inbox every business day.

There are five more stories in the news

1. The senator calls for an investigation into Didi’s IPO Senators Bill Hagerty and Chris Van Hollen call on the Securities and Exchange Commission survey Did Didi Chuxing misled American investors before the initial public offering? They have asked regulators to determine whether Didi’s contacts with Chinese regulators before its shares are listed are frank enough.

  • China’s suppression of Didi has caused repercussions: Keep, the most popular fitness app in China, Unplug As Chinese regulators announce an investigation into plans for an initial public offering in the U.S. last week Data security issues Didi.

2. Biden defended the U.S. withdrawal from Afghanistan Joe Biden said on Thursday that the U.S. military mission in Afghanistan will Ends on August 31Defend his decision to withdraw the US army after more than 20 years of fighting, despite the threat of a resurrection by the Taliban.a lot of Professionals in Afghanistan are fleeing The country before the U.S. withdrawal. (“Financial Times”, “Wall Street Journal”)

3. The European Central Bank changes its inflation target The European Central Bank has developed a new 2% inflation target And said that temporary changes beyond this point can be tolerated, and this change allows policymakers the flexibility to maintain interest rates at historically low levels for a longer period of time.

4. Malaysian Alliance partners call on the Prime Minister to step down Umno chairman Ahmad Zahid Hamidi is a political party that has dominated Malaysian politics for decades. Withdraw support from the ruling coalition, Said Prime Minister Muhyiddin Yassin “failed” to resolve the economic slowdown or fight the pandemic.

5. India’s Zomato launches a US$1.25 billion IPO The takeaway group announced that it will launch its IPO of 1.25 billion U.S. dollars next week As consumers migrate online during the pandemic, it tries to take advantage of the surge in demand for orders. Zomato will lead the country’s technology IPO wave this year.

Coronavirus Digest

  • Tokyo Olympics will Held without an audience After the Japanese government declared a Covid-19 emergency in the capital.

  • Director-General of the World Health Organization Said the global Covid-19 death toll, this is already After 4m “May underestimate the overall loss.”

  • In our new series, the first person, Florists, fishmongers, writers, oil towns and auto insurance companies showed how they responded to the effects of the pandemic.

  • Increased infection rates driven by Delta variants forced Israel to Reintroduce restrictions For the first time since January.

Yield (%) Line chart shows that the 10-year U.S. Treasury bond yield fell to its lowest level since February

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The days to come

G20 meeting The finance ministers will begin a two-day meeting in Venice today.The main agenda item will be the proposed lowest global corporate tax, in 130 countries agree At the OECD last week.During the talks, Ireland worried Lost its “sacred and inviolable” low tax system.

China inflation data Today’s data is ready to display continuously rising The country’s ex-factory prices have soared this year due to rising global commodities.

Euro 2020 final: England vs. Italy The England team on Sunday will participate in their first major football tournament final in 55 years. Beat Denmark 2-1Scientists warn that England’s merits may Contributing to a surge in coronavirus cases.

London fans celebrate in the semifinals between England and Denmark. © Leon Neal/Getty

London fans celebrate in the semifinals between England and Denmark. © Leon Neal/Getty

With the revision of the British “Financial Times”, keep up with important business, economic and political stories in the coming days A week ahead communication.subscription Here. Don’t miss our FT Newsletter Audio program-a short daily summary of the world’s top stories.

What are we still reading

Hong Kong’s legal system bears the scars of the National Security Law After Beijing implemented the National Security Law in Hong Kong last year, many businessmen believed that these changes would save Hong Kong’s courts from being affected by a legal system modeled after the British common law.But one year later, analysts say that this law is Quickly destroy the city’s legal norms.

China’s rivals with Boeing and Airbus will join the battle of the sky The launch of China’s first passenger aircraft, the single-aisle C919, will expose an industry dominated by European Airbus and its American competitor Boeing to a new competitor with strong financial resources and close political ties: State-backed aerospace champion COMAC.

American history wars, races, and national flag Should history make you proud or ashamed?Unapologetically nationalism or confessional anti-tradition, ask Simon Sharma. History is neither self-congratulation nor self-flagellation. It is in the business of truth. He wrote that the myth of the founding of the United States did not begin with “awakening” activists, but has existed from the beginning.

Tell me the lie, tell me the cute little VIE Back in the calm days of October 2019, Alphaville conducted a thought experiment: given the gray areas of the law Variable interest entity (The structure that allows Chinese companies to list on US exchanges) What would happen if China decided to ban them directly? This is a somewhat crazy idea—until this week, Jamie Powell wrote.

How to prepare for life after a stressful career Assumptions about traditional career paths and their duration have been overturned. Nearing retirement provides opportunities to develop skills.This is a guide How to prepare As the “third age”.


Luxury brands are getting more and more moving From fashion to cosmetics Attract new, usually young consumers, who may not be able to afford a 3,000-euro handbag. But the roots of this diversification can be traced back a century ago when the N°5 perfume of Coco Chanel was launched.

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