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We see China’s regulatory crackdown that recently rattled markets likely to moderate, alongside a dovish shift in macro policy, for the near term.
The Federal Reserve noted further progress in the economy as expected; we see a tapering of asset purchases unlikely to start before early next year.
U.S. nonfarm payrolls will be in focus, with consensus forecast expecting a faster pace of growth than June when jobs gain was the largest in 10 months.