China Motorcycle Association data: In July fuel motorcycle production was 1.9384 mln vehicles and sales 1.8996 mln, up 5.13% and 2.97% MoM and 22.32% and 18.85% YoY respectively. Electric motorcycle production was 0.3311 mln and sales 0.3212 mln, down 21.21% and 20.87% MoM but up 10.37% and 9.5% YoY. Total motorcycle production and sales were 2.2696 mln and 2.2208 mln, production +0.24% MoM, sales -1.33% MoM, YoY +20.42% and +17.4%. Domestic motorcycle sales were 0.8012 mln (-8.15% MoM, +7.6% Yo

Fed governor Barkin said it remains unresolved whether the Fed will need to raise rates to restore the 2% inflation target or whether inflation is already on a sustained downtrend. He noted parts of the US economy remain puzzling, with consumers and overall activity not yet showing effects from shocks. Many Fed officials view current policy rates as sufficiently restrictive to curb inflation. With wage pressures moderate and tariffs, oil and other shocks likely to fade, inflation could ease; however, persistent price pressures might require weaker demand or additional rate hikes to meet the Fed's goal.

BARKIN: Firms have concluded that, despite uncertainty, they can no longer delay investment.