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China Led The Recovery Trade; Now Almost Everyone Is Cautious

  • China’s daily stock turnover falls to lowest level since May
  • Analysts see further downside for government bonds, yuan
Views of Shanghai as Virus Cases Soar
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No matter the asset class, the outlook is turning bleak for China’s financial markets.

The nation’s stocks, bonds and currency are losing their shine after an impressive start to the year, overshadowed by a stronger dollar, higher U.S. Treasury yields and a domestic campaign to cut financial risk.