
Prior +11.3% New yuan loans ¥345.9 billion vs ¥800.0 billion expected Prior ¥3.05 trillion The slowdown in broad money growth in China continues with new yuan loans also dipping after the huge surge at the end of Q2. Beijing has a tough task in trying to balance out tighter credit conditions, providing more stimulus while

> UK RICS housing survey for July -53 versus -50 estimate UK RICS housing survey for July 2023 Prior month -46 revised 2-48 RICs housing survey for July -53 versus -50 estimate. This is the lowest since April 2009 agreed sales balance -44 versus -36 last month. Lowest since April 2020 near-term rental price balance

Jobs market cooling a bit but still extremely strong Goods inflation has been tough to bring down Highlights improvements in US productivity as disinflationary Fed has to be patient, monetary policy has lags Question should be: How long are we going to stay at these levels, not about when the next hike will be Holding









