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Good morning. China unrest spooks markets, oil tumbles and bond traders prepare for recession. Here’s what people are talking about.
Chinese assets slumped Monday as a sense of chaos and uncertainty gripped traders after growing protests against Covid curbs complicated the nation’s path to reopening. The Hang Seng China Enterprises Index declined more than 4% early Monday before paring losses by about half. The onshore yuan weakened as much as 1% at the open, the most since May. Goldman Sachs said China could end its Covid-zero policy before April, earlier than widely expected.