IMF chief economist says the UK should continue to pursue deficit reduction.

Oriental Jincheng said 1H China dollar bond issuance totaled $28.22 bln, down 45.2% YoY; maturities were $60.26 bln, down 31.0% YoY, leaving a net financing shortfall of $32.04 bln, narrowed by $3.81 bln YoY. Average issuance costs broadly tracked UST yields, falling YoY but rising sequentially, with divergent industry performance. The agency warned the Fed may further tighten policy, keeping the UST yield baseline elevated and skewed higher, which should keep China dollar bond issuance costs high. Issuance volume is expected to stay low in H2, though the YoY decline should narrow, issuance will concentrate in investment-grade names and tenors should remain relatively stable.

IMF首席经济学家：人工智能的重新评估导致需求下调。