Worldwide News

China
Figures released from China show a healthy slowing in growth to a still impressive 10.3% (down from 11.9% and consensus forecast 10.5%). What's really impressive is that inflation eased to 2.9% (consensus 3.3%)

Car Sales
In Australia New Motor Vehicle Sales fell by 1.2% in June after a downwardly-revised 3.9% in May. They are 8.2% Yr/Yr

US FOMC Minutes
These were on the dovish side, but given the plethora of dovish erring speeches from Fed members over the past 10 days this was not exactly unexpected. Of note was discussion over the risk of deflation and also the potential of selling assets, though not looking to do so as yet, they discussed potential of reinvesting maturing assets in shorter dated Treasuries, but no decisions were made.