OPTIONS: Call Structures Bought In Sonia And Euribor Wednesdays

MNI London: Indian Minister of External Affairs, Subrahmanyam Jaishankar, has met with Chinese Foreign Minister Wang Yi in New Delhi, India. The trip is Wang’s first to India in more than three years. 

• Wang said ahead of the meeting: “When the world’s two largest nations meet, it is natural that the international situation will be discussed. We seek a fair, balanced and multipolar world order, including a multipolar Asia. In the current environment, there is clearly the imperative of maintaining and enhancing stability in the global economy as well.”
• Per Reuters, Jaishankar said he is confident that discussions would, "contribute to building a stable, cooperative and forward-looking relationship between India and China."
• Jaishankar told reporters that the ministers had “productive conversations on our economic and trade issues, pilgrimages, people-to-people contacts,” and on “river data sharing, border trade, connectivity and bilateral exchanges”.
• The meeting comes as India and China engage in a rapprochement, accelerated by US President Donald Trump’s threat of a punitive 50% tariff rate imposed on Indian exports to the US.
• The New York Times notes that Trump’s trade agenda has, “injected new momentum into an easing of tensions between China and India, which had ramped up in recent years.”
• At the end of August, Indian Prime Minister Narendra Modi will travel to China for a bilateral meeting with Chinese President Xi Jinping on the margins of the Shanghai Cooperation Organisation summit in Tianjin, Modi’s first trip to China in seven years.

• EUR/USD: Aug20 $1.1660-75(E1.3bln); Aug21 $1.1600(E1.3bln), $1.1700(E1.5bln), $1.1750(E1.9bln), $1.1800(E2.9bln)
• USD/JPY: Aug20 Y148.00-10($1.3bln); Aug21 Y145.95-00($1.2bln), Y146.70-80($1.7bln); Aug22 Y147.90($1.4bln)
• AUD/USD: Aug21 $0.6590-00(A$1.8bln)

• Event risk sidelined investors Monday, US Stocks holding weaker prices on narrow ranges ahead of Wednesday's July FOMC minutes release and the annual economic symposium in Jackson Hole, Wy that officially kicks off Friday morning.
• The tech-heavy Nasdaq underperforming mildly weaker SPX eminis and DJIA indexes ahead midday. Currently the DJIA trades down 23.24 points (-0.05%) at 44921.4, S&P E-Minis down 7 points (-0.11%) at 6464.5, Nasdaq down 28.3 points (-0.1%) at 21593.88.
• While Health Care, Consumer Staples and Industrials sectors led gainers in the first half, individual stocks were a little more varied with IT services leading: Dayforce +26.80%, Paycom Software +3.49%, EPAM Systems +5.05%, Trade Desk +4.30%.
• Other leading stocks included First Solar +8.88%, Enphase Energy +3.14%, Royal Caribbean Cruises +4.02% Lululemon Athletica +3.46%, Molina Healthcare +3.16% and UnitedHealth Group +2.91%.
• Conversely, oil & gas stocks underperformed EQT -4.84%, Coterra Energy -3.04%, Expand Energy -2.00%, Williams Cos 1.91%; followed by large cap tech stocks: Electronic Arts -3.05%, Meta Platforms -2.64% and Palantir Technologies -2.20%.