FOMC minutes showed most participants supported keeping policy rates unchanged, though several favored a rate hike.

On the morning of Aug 20, 2026, the Shenzhen Intermediate People’s Court issued first-instance verdicts in cases against Evergrande Group Co., Ltd., Evergrande Real Estate Group Co., Ltd. and Xu Jiayin. Evergrande Group was fined RMB 8.82 bln following combined convictions; Evergrande Real Estate was fined RMB 7.0 bln. Xu Jiayin was sentenced to life imprisonment, deprived of political rights for life, and ordered to forfeit all personal property; illicit gains will continue to be recovered and any shortfall will be ordered repaid. The Shenzhen Intermediate Court and Nanshan District People’s Court also sentenced 56 Evergrande-related defendants for illegal public deposit-taking, fundraising fraud and illegal use of funds to fixed-term prison terms ranging from 18 years to 1 year 10 months, and imposed fines or property confiscation; illicit gains will be recovered and shortfalls ordered repaid. Named defendants include Zhen Litao, Ke Peng, Xu Tenghe, Xu Zhijian, Du Liang and Liang Dong.

JP Morgan strategists warned markets may view the US Treasury’s surprise effort to suppress long-term financing costs via expanded bond buybacks as lacking credibility, which could lift the term premium and Treasury yields over time. The Treasury on Wednesday said it would at least double buyback size to provide “greater liquidity support,” a move intended to lower long-term yields. JP Morgan called the measure a stopgap, noting the US is near full employment while running roughly a 6% fiscal deficit; strategists including Jay Barry wrote that without genuine fiscal consolidation, the market may find the action not credible and that any shift away from a “regular and predictable” debt-management posture could push term premia and yields higher. US Treasury debt has topped $40 trillion, complicating control of funding costs amid ongoing issuance. A market survey showed about 60% of respondents expect US debt conditions to worsen until a major crisis.