Investors in U.S. stocks and bonds have refocused their attention on the U.S. economy, as it continues to strengthen. The improvement in the economy may be a sign of the Federal Reserve increasing interest rates as soon as next month. People are starting to worry less about the effects of China’s currency devaluation.
This is due to better than expected economic data, especially in industrial production and retail sales, and the fact that the yuan has stabilized. China’s yuan stopped a 3-day decline after the central bank raised its reference rate for the first time since Tuesday’s devaluation.
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