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Good morning from the Financial Times. Today is Wednesday, August 7th, and this is your

F.T. News briefing. Don't worry, everyone. Global stocks did bounce back yesterday and Chinese bonds are

hott t oo g o go hot to go but maybe too hot plus the f t s ef t sari germano tells us

about efforts to make track and field more popular and profitable beyond the Olympics.

There are meets going on all seasons, all continents, but the business around the sport compared to others has been a little bit

antiquated.

I'm Mark Filipino and here's the news you need to start your day. Global markets calm down yesterday after a brutal sell-off at the beginning of the week.

The NASDAQ composite gained around 1% on Tuesday and the stocks Europe 600 closed about

two-tenths of a percent higher.

Japanese stocks had the most dramatic turnaround.

The topics index nearly erased all of its gains from the day before.

Basically, investors realized that Monday's sell-off was a bit of an

overreaction to concerns about the U.S. economy, but they're still worried about market volatility,

especially with a rocky U. rocky US presidential election coming up and

tensions still running high in the Middle East. Chinese government bonds are on fire. which has sent prices soaring and yields plummeting.

That's causing a lot of anxiety for the country's policymakers.

In fact, the Central Bank has been warning for months now that a bubble might be brewing. The F.T.'s Chen Len has been covering the issue

and joins me now to explain what's going on. Hey Chen.

Hi, thanks for having me.

Of course, so walk me through what's been going on in China's sovereign bond market over the past few months.

...