First Thing: New Fed chair Kevin Warsh faces early test amid bond market worries

Key speech to be delivered this week at Jackson Hole said to focus on productivity and demographics in the US. Plus, how do you vaccinate 1,000 little penguins in the wild? Good morning. The new US Federal Reserve chair, Kevin Warsh, faces a critical test this week amid anxiety in government bond markets over inflation

Treasury’s bond market actions could complicate Warsh’s job, Fed messaging

Bond market anxiety raises stakes for Warsh's debut Jackson Hole speech  Reuters

The two countries could start to address fiscal weaknesses together and make sure the market knows they are getting their houses in order.

What Fed Chair Kevin Warsh’s Jackson Hole Debut Means for Nervous Markets  WSJ

The so-called breakeven rate hit its highest levels in more than two months.

Trump’s Fed pick faces Jackson Hole test as US debt hits $40trn  The Times

A reported trip to China next week by a cross-party group of Japanese lawmakers could carry “pronounced” symbolic weight but is unlikely to herald a thaw in ties between the two neighbours, Chinese experts suggest. For the first time since bilateral relations succumbed to a bitter chill 10 months ago, a delegation of J