China data out this morning
- July M2 money supply +13.3 pct y/y (Reuters poll for the expected was at 11.7 pct)
- July New yuan loans 1.48 trln yuan (Reuters poll for the expected was at 738.0 bln yuan)
- End-July yuan lending +15.5 pct y/y (Reuters poll for the expected was at 13.6 pct)
- July total social financing at 718.8 bln yuan
I wasn't expecting this data until the 12th
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Check out the new loans ... nearly double what was expected ... I guess the authorities are really hoping that a lot of this goes into the stockmarket, at least this time:
more to come
