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BRENT TECHS

(U1) Extends Gains

EQUITY TECHS

E-MINI S&P (U1): Northbound

JPY

Awaiting Clearer Cues

TURKEY

Local Bonds Take A Knock After the Eid Break

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The U.S. attempt to rely on administrative means to create its own supply chain goes against market principles and cannot lead to a sustainable impact on global supply chains, the Global Times said in a commentary. The U.S. eagerness to establish its own manufacturing chain is a reflection of its anxiety over the hollowing out of its industries, and it no longer possesses the fundamentals required for mass manufacturing, with the tertiary sector already accounting for more than 80 percent of its GDP, the newspaper said. The U.S., at the top of the supply chain, has never been cut off supplies of any materials by any party, it said. The hype about its industrial chain vulnerabilities is the same as the conspiracy theory about global dependence on Chinese manufacturing, the newspaper said.