US inf data due tonight could move markets short term, but Metzler Bank analysts say it is unlikely to materially influence the Fed's September rate decision. After weaker-than-expected June core inf, markets will watch whether July continues the trend or June was an outlier. Metzler says the Fed is likely to wait for additional data — PPI, PCE — and developments in the Middle East before deciding on rates.

A 13F-HR filed with the U.S. SEC on Tuesday showed Swiss National Bank U.S. equity holdings in its FX reserves rose more than 10% in Q2 to a record. As of June 30 the SNB held positions in over 2,300 U.S.-listed firms valued at $191.4bn. Equities make up slightly more than a quarter of its FX reserves, with part allocated to U.S. stocks; the top three holdings are Nvidia, Apple and Microsoft. The SNB also holds a $716.6m stake in defense-software firm Palantir and rejected activist demands to sell roughly $1.1bn of Palantir stock.

1、沪深两市8月11日总成交量为2.32万亿，较上一交易日回落，跌至20日均线（2.42万亿）下方。 2、8月11日衡量A股杠杆水平的融资买入额占A股流动市值之比温和反弹至10.17%，年内一直围绕着10%波动，但5月以来波动明显加剧。 -------- 注：1、两市成交量反映了各大机构、游资、广大散户对A股看法，高于均线代表总成交量升高，市场情绪偏乐观，低于均线代表总成交量下降，市场情绪降温。 2、2015年以来，A股杠杆水平大部分时候维持在6%-10%，杠杆率超过10%意味着市场活跃度较高，可能接近或者处于牛市。达到15%以上意味着市场有过热风险，需要警惕风险。