Treasury Secretary Jack Lew warns lawmakers that they can't continue to ignore the need to raise the nation's borrowing limit forever. In fact, by his estimates, Congress should act on the matter by mid-fall.
[Bloomberg] - The Bloomberg Dollar Spot Index was little changed, set for its best month since January. West Texas Intermediate oil has slumped 19 percent in July, its worst performance since December, while gold is down 7.4 percent, set for its biggest monthly drop since 2013 after falling to a five-year low.
[at Financial Times] - Chinese stocks surged in late trade on Wednesday, with the Shanghai index recording a 3.4 per cent rise just two days after one of its sharpest drops in history. The Shanghai Composite closed at 3,789.0 ...
[Reuters] - China stocks fell for a fourth straight session on Wednesday but losses were more subdued than earlier in the week, while futures markets steadied after the government announced more market support measures. China CSI300 stock index futures for August were little changed at 3,682.2, but still 118.71 points below the current value of the underlying index, pointing to expectations of further losses. Shares fell on Tuesday as Beijing scrambled once again to prop up a stock market whose wild gyrations have heightened fears about the financial stability of the world's second-biggest economy.