The OFR released today its Financial Markets Monitor for August. The monitor says risk aversion intensified in August following China’s surprise renminbi devaluation and its shift toward a more market-oriented currency regime. The currency moves magnified market concerns about slowing global growth and inflation, causing pronounced sell-offs in markets for commodities, emerging market currencies, and global equities.
The monitor is posted on the OFR website at:
http://financialresearch.gov/financial-markets-monitor
The OFR home page is at http://financialresearch.gov
