- China’s government is weighing whether to let local governments issue bonds to buy homes, according to Bloomberg.
- At 12:55 GMT, the Redbook Index for the week ending August 16 is set to be released. The previous reading showed a 4.7% increase over a one-year period.
- In the runup towards Jackson Hole, nearly all Federal Open Market Committee (FOMC) members will have a window of opportunity to have their say on monetary policy. This Tuesday two members are set to issue comments:
- Federal Reserve Bank of Atlanta President Raphael Bostic gives some remarks at the Atlanta Fed's Payment Inclusion Forum in Atlanta.
- Federal Reserve Vice Chair for Supervision Michael Barr participates in a discussion about cybersecurity at the Joint Financial and Banking Information Infrastructure Committee-Financial Services Sector Coordinating Council Meeting in Washington, D.C.
- Asian equity markets are mixed, with Japanese indices up over 1% while Chinese equities are on the back foot. European and US equities are continuing the positive tone from Monday.
- The CME Fedwatch Tool shows a 77.5% chance of a 25 basis points (bps) interest rate cut by the Fed in September against a 22.5% chance for a 50 bps cut. Another 25 bps cut (if September is a 25 bps cut) is expected in November by 59.3%, while there is a 35.4% chance that rates will be 75 bps below the current levels and a 5.2% probability of rates being 100 basis points lower.
- The US 10-year benchmark rate trades at 3.87% and is looking for direction after last week’s dip.
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