Positives

• MSCI Thailand reported the 2nd largest inflow of $133mn after MSCI Philippines
• Thai Constitutional Courts throw out petitions
• Ireland issues bonds (yes it was last week but I don’t believe this is getting enough press, only 2 years since its wipeout and its already issuing bonds at yields lower than Spain)
• AOT continued to post an impressive YoY air traffic growth in June. Passengers increased by 13% YoY to 5,473,106 people
• New E100bn credit line available to Spain
• Global Central Banks cut rates, risk on!

Negatives

• Global Central Banks cut rates, economic slowdown hmm?
• China’s GDP continues to slow downs, GDP decelerated to +7.6%Y (vs. expectations of +7.7%) from 8.1%Y in 1Q.