Markets Week Ahead: Dow Jones, USD/JPY, BTC/USD, China Crypto Crackdown, Evergrande

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The Dow Jones, S&P 500 and Nasdaq 100 wrapped up a rosy week, rising about 0.75%, 0.64% and 0.14% respectively. This is considering that all 3 Wall Street benchmark stock indices erased prominent downside gaps at the beginning of the week. Most regional stock indices in Europe also finished higher, with Asia-Pacific markets falling slightly behind.Evergrande contagion woes were brushed aside as the highly indebted company made an onshore coupon payment. Offshore bondholders reportedly did not receive payments by the end of the trading week. The situation remains fluid as China told local governments to prepare for a default. The risk is that a growth slowdown in the world’s second-largest economy reverberates outwards.Markets seemed to focus more on the Federal Reserve as Chair Jerome Powell hinted at completing asset purchase tapering by the middle of next year. The 10-year Treasury yield rallied to its highest since early March amid the central bank’s rosy outlook o
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