Market participants are increasing their bets that the People's Bank of China will once again reduce banks' reserve requirement ratio to make up for liquidity shortfalls towards the year-end.
Recent economic data has showed the world's second-largest economy is losing steam and facing more pressure in the second half. Investors increasingly expect local governments to boost the pace of bond financing to support credit growth and revive activity. Many market participants expect the local government bond supply could exceed one trillion yuan in September.
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