US rating agency Moody's out with a note on China 21 July
- highest level endorsement by Xi and top policy makers of measures are credit positive for sovereign
- scrutiny from highest levels of govt on financial stability, SOE leverage, pace of debt growth in economy, among SOEs is likely to slow
- forecast debt will continue to rise, inc for govts, household and non-financial corps#
Meanwhile EURUSD 1.1630, AUDUSD 0.7896, GBPUSD 1.2970 USDJPY 111.96
Xi's endorsement of measures credit positive
