The yield on German two-year notes drops to a record low as China’s devaluation of the yuan added to concern the world’s second-largest economy will curb global growth. U.S. Treasuries climbed as the People’s Bank of China cut its reference rate for the yuan for a second day. Source Bloomberg
Russia’s oil output may decline next year due to a global reduction pact, Energy Minister Alexander Novak said on Tuesday, possibly halting an uninterrupted decade-long run of growth. Source: Reuters
The International Monetary Fund has approved a new $3.9 billion loan agreement for Ukraine, a small victory for President Petro Poroshenko ahead of the presidential election next year. Source: Radio Free Europe
Rome and Brussels appear to have resolved their disagreements and reached a compromise, after Prime Minister Giuseppe Conte promised the EU that his country would reduce its 2019 deficit. Source: Deutsche Welle
