SHANGHAI, Jun 5 (SMM) –Data released by the National Bureau of Statistics showed China’s manufacturing PMI was 48.8% in May, which was in the contraction territory for three consecutive months, denting market confidence. US President Biden and House Speaker McCarthy finally reached a preliminary agreement on the debt ceiling issue, but the US Beige Book pointed out that the US economy has cooled. The US Fed’s attitude towards raising or cutting interest rates began to swing.  

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