Markets in Asia-Pacific were subdued in Tuesday trading, off the back of weak economic data from Asia. And this is despite US President Joe Biden considering cutting tariffs on Chinese goods. Meanwhile, in China, Goldman Sachs says it expects more real estate defaults. Twenty two high-yield bond issuers, all related to the property sector, have either defaulted on their U.S. dollar-denominated bonds or deferred repayments with bond exchanges since the start of this year.

We spoke to Craig Erlam, who is senior market analyst at OANDA.

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