China's Third Plenary Meeting Reinforces Greater Role for Markets

China's third plenum turned out to be somehow disappointing. Although the government pledged to commit to a larger and decisive role for markets, it lacked further details on the measures. In the US, speculations of a Fed's tapering in December returned to the spotlight as Janet Yellen is to testify before the Senate. This had the effect of pressuring stock markets and bond markets, sending yields higher.

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China's Third Plenary Meeting Reinforces Greater Role for Markets