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 - 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: (full story)