The U.S. House of Representatives voted on Tuesday to adopt a blueprint for a $3.5 trillion budget resolution. Prior pressure from the White House and Speaker Nancy Pelosi’s pledge united the divided Democrats, thus making President Joe Biden’s core economic agenda. Can continue to advance. The result of the 220-212 vote temporarily put aside the differences between the progressive and moderate in the Democratic Party. Pelosi is working to advance the aforementioned budget resolution and another $550 billion bipartisan infrastructure bill.

The U.S. Securities and Exchange Commission (SEC) will require more than 250 Chinese companies that have been listed in the U.S. to strengthen disclosure of political and regulatory risks to investors, expanding a recent requirement for companies to be listed. SEC Chairman Gary Gensler said in an interview on Tuesday that it is expected that starting early next year, the company's annual report will contain more information disclosure, and the newly added details may include information about the structure of the shell company. Investors need to obtain "sufficient and fair information disclosure," Gensler said. The increased disclosure requirements mark the SEC's latest response to the Chinese government's rectification of private industries.

The detailed results of the issuance of 10-year US Treasury bonds this month showed that the allocation of overseas funds hit a record high. The US Treasury Department’s August 11th Treasury bond issuance details released on Monday showed that of the US$41 billion in bonds issued, foreign and international categories-including foreign official institutions-were allocated US$15.4 billion, a record high. Their 38% share is the largest in ten years.

The sales of new homes in the United States in July increased for the first time in four months, and the housing market was supported by an increase in homes for sale and strong potential demand. Government data released on Tuesday showed that the purchase of new single-family houses increased by 1% to an annual rate of 708,000 units. The data in June was revised upward to 701,000 units. Economists surveyed by Bloomberg expected a median of 697,000 units in July. The report shows that new residential sales have stabilized slightly after falling to their lowest level since April last month. Although inventory is still limited, the increase in listings has boosted sales.

The approval rating of the German Social Democratic Party in a poll surpassed Chancellor Merkel's conservative coalition for the first time in 15 years, triggering a high-ranking conservative official to attack the Social Democratic Party. The remarks made by Soeder, the leader of the CDU’s sister party, the CDU, highlighted the campaign efforts that German conservatives will take in the coming weeks. In a speech at a webinar on Tuesday, he stated that the government led by the Social Democratic Party will implement a “cruel debt” policy, abandon a balanced budget and support “large-scale” tax increases. The Social Democratic Party has called for a more lenient fiscal policy to impose new taxes on the wealthy, including a wealth tax, but supports tax cuts for the non-rich.

Christian Hawkesby, Assistant Governor of the Bank of New Zealand, said that the central bank’s decision not to raise interest rates last week was due to challenges in policy communication, not economic risks. Hawkesby said in a telephone interview with Bloomberg in Wellington on Tuesday that it is difficult to explain to the outside world why the central bank will raise the official cash rate on the same day as the anti-epidemic lockdown. He also said that policymakers considered scenarios where the official cash rate was raised by as much as half a percentage point.

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