Released in China late Friday by the PBOC

  • Social financing is a broad measure of liquidity, includes bank loans and bond sales
  • Now at its lowest level in nearly a year, though at levels still mostly deemed ample
  • M2 money supply +14% y/y (forecast was +15.2%, and prior was +15.8%), slowest rise in 6 months
  • New yuan loans 860.5bn yuan (forecast 800bn yuan, prior was 667.4bn yuan in May)