Fed Governor Barr said over the long run the central bank must ensure necessary measures are taken to bring supply and demand into balance.

China's National Climate Center said a typical strong El Niño creates cross-season, lagged climate disturbances that often peak in the following year and is not the sole driver of China's climate. In El Niño decay years, an anomalously strong western Pacific subtropical high tends to push warm, moist air into China. Coupled with ongoing global warming and a strengthened northern rain belt, summers may see heavier, longer-duration rainfall and more intense heatwaves. The center advised monitoring this winter's intermittent severe cold snaps for impacts on northern heating demand and next summer's widespread heat for higher air-conditioning loads and peak power demand. El Niño's basin-specific effects can produce spatial mismatches in river inflows, abnormal load-peak volatility and added pressure on reservoir dispatch.

2-year bond futures (TS) most-active contract rose 0.04%; 5-year (TF) up 0.07%; 10-year (T) up 0.10%; 30-year (TL) up 0.52% at the midday close.