South Korea's National Pension Service (NPS) said its $1.4 trillion pension fund generated a 27% return in 1H.

Analysts and investors say Wosh’s upcoming remarks are an early test of whether he will respond to rising market concern about his policy plans. The Fed has missed its inflation target for 65 consecutive months, with little progress over the past 18 months. Wosh has repeatedly pledged to achieve the Fed’s inflation target since taking office but has offered no concrete path, prompting calls for a shift in policy emphasis. Gregory Daco, chief economist at EY-Parthenon, warned Wosh’s prior comments have been vague and said markets worry about Fed independence and whether he might avoid discussing possible rate hikes to placate the Trump administration. Daco said Wosh must avoid signaling closer coordination with the Treasury or that he is influenced by presidential pressure. Speak too much and he risks creating hard-to-retract expectations or unsettling markets; speak too little and he risks losing credibility and ceding influence to other Fed officials. Either outcome could trigger market volatility.

The PBOC conducted 20.0 bln yuan of 7-day reverse repos and 333.0 bln yuan of overnight reverse repos; with 95.0 bln yuan of 7-day and 503.5 bln yuan of overnight reverse repos maturing, the central bank recorded a net drain of 245.5 bln yuan on the day. Over the week the PBOC injected 1,088.5 bln yuan via 7-day reverse repos, 836.5 bln via overnight reverse repos and 500.0 bln via one-year MLF; with 95.0 bln, 503.5 bln and 600.0 bln maturing respectively, the week saw a net injection of 1,226.5 bln yuan.