Hedge funds and commodities traders urged to hold more liquid assets (FT)
Financial Stability Board highlights need for capacity to meet margin calls in case of market shocks.

New York Fed Says Quantitative Tightening Could Stop in 2025 (Bloomberg)
Projections show reserves dropping to around $2.5-$3 trillion.

China’s Punishment for People With Bad Debts: No Fast Trains or Nice Hotels (WSJ)
Beijing’s crackdown on millions of delinquent debtors makes catching up on unpaid bills a slog.

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