China A-share salt-lake lithium extraction sector plunged; Western Mining fell more than 9.5%, China Molybdenum fell more than 6.5%, and Tibet Summit, Zangge Mining, Beijete and TTANQT LITHIUM each dropped over 5%.

JP Morgan strategists say Thursday’s U.S. Treasury repo accepted a wider range of securities and cleared below the operation’s cap, suggesting bid quality has weakened versus recent operations. Submitted bids remained near recent lows and the bid-to-cap ratio fell to the lowest level since the repo program began. The Treasury bought $5.2bn of longer-dated notes, below the $6.0bn maximum. JP Morgan also notes the U.S. is running a roughly 6% budget deficit despite near-full employment and says the issue will not be resolved without substantial fiscal consolidation.

PBOC vice governor Lu Lei said on Sept. 10 at a State Council Information Office briefing that foreign entities hold more than 11 tln yuan of onshore RMB financial assets. Central banks or monetary authorities in over 80 countries and regions have included the yuan in FX reserves. Panda bond issuance has exceeded 1.3 tln yuan, with issuers covering 26 countries and regions across five continents.