Coronavirus infections in Beijing have reached a three-week high, the highest since May 22, when the current outbreak saw a record number of cases.
Beijing's public schools have been closed till Monday, and all sporting activities have been canceled. A significant chunk of the public transportation system was shut down, as were several retail malls and gyms, and millions of people were forced to work from home.
After being pounded by aggressive Fed tightening forecasts, Asia's risk appetite is regaining ground.
However, the Australian dollar fell because investors were concerned that the Federal Reserve would tighten monetary policy too quickly, which would harm the US economy, as demonstrated by US Treasury yields.
US Treasury yields are up more than 20 basis points on the day, led by the 10-year note's benchmark rate.
Beijing's public schools have been closed till Monday, and all sporting activities have been canceled. A significant chunk of the public transportation system was shut down, as were several retail malls and gyms, and millions of people were forced to work from home.
After being pounded by aggressive Fed tightening forecasts, Asia's risk appetite is regaining ground.
However, the Australian dollar fell because investors were concerned that the Federal Reserve would tighten monetary policy too quickly, which would harm the US economy, as demonstrated by US Treasury yields.
US Treasury yields are up more than 20 basis points on the day, led by the 10-year note's benchmark rate.