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EMERGING MARKETS

CZKPLN Approaching Key Resistance at 0.18

US TSY OPTIONS

Range in Underlying Spurring Vol Sales

USD

Extends gains against the Pound and EUR

CHINA RATES
CHINA RATES: China may raise deposit rate in Q3 if given the right conditions in
its growth and inflation in 1H, said Xiao Lisheng, deputy director of the
Institute of World Economics and Politics of the Chinese Academy of Social
Science. 
- PBOC is under pressure from 3 rate hikes by the Federal Reserve
- Banks' deposit costs may increase as they are told by regulators to place
off-balance sheet transactions back on their balance sheets
- A higher interest rate facilitates China's deleveraging campaign 
- Inflation is accelerating.
* Xiao's research published on CF40 WeChat account.