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Pullback Considered Corrective

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Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

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China may increase fiscal spending in the second half to support the slowing economy by utilizing its policy room after expenditure in H1 was the slowest in recent years even as revenue surged 21.8% y/y, reported cls.cn, a website owned by Shanghai United Media Group. However, debt-funded government investment will be significantly weaker than in the past and new bond sales could slow so to focus on funding high-quality projects, the newspaper said citing anlysts.