Asia Traders Dial Down Risk on Chance No Debt Deal by Monday
- HSBC says US debt default would be like opening Pandora’s box
- India, Korea sovereign bonds set to outperform, abrdn says
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Markets are largely in the green Friday but strategists warn there’s still a prospect US debt-ceiling negotiations break down over the weekend or result in draconian spending cuts that crimp global economic growth.
Assets in Asia are especially vulnerable as they will be the first to react to any agreement when they open Monday as the US will be shut that day for a holiday.