US July trade deficit $88.6bn, versus $90.0bn expected; June deficit revised from $73.3bn to $71.2bn.

摩根大通全球市场策略团队发现，近期跨资产波动放大，并不意味着所有市场的交易流动性都在同步恶化。真正恶化最明显的，是现金美债市场。报告显示，10年期现金美债的市场深度近几周明显下降，已经接近2026年3月美伊冲突爆发时的低点。相比之下，标普500 e-mini、Euro Stoxx 50 e-mini、公司债ETF，甚至最近受到地缘风险扰动的油价，其流动性恶化都相对有限。

At a regular briefing, Foreign Ministry spokesman Guo Jiakun responded to a Reuters question about Palau’s president urging Pacific Islands Forum members to condemn China’s missile tests. Guo said China has repeatedly explained its position and accused Palau of repeatedly hyping the tests to coerce other forum members and pursue a malicious agenda that will not succeed. He reiterated China’s commitment to peaceful development, a defensive national defence policy, and said China does not seek military expansion and is willing to work with South Pacific states to maintain regional peace, stability and development.