ECB sources say a decision on minimum reserve requirements is expected in autumn.

US FHFA house-price index YoY for April +2.0%; prior reading revised from 1.7% to 1.8%.

Foreign and domestic appetite for A‑shares rose in 1H; foreign holdings of A‑shares reached a phase high. China's ETF market is expanding rapidly and long-term funds are becoming a material market force. As of June 30, 187 ETFs launched year‑to‑date, issuing 65.487 billion units, the highest number of H1 launches on record. Industry participants said equity and tech ETF issuance hit a phase high in 1H and has become the core vehicle for institutions and retail to access the tech theme.