[US Commercial Bank Deposits Shrink by $74 Billion in a Single Week, Short-Term Volatility Draws Attention] ⑴ Federal Reserve data shows that as of the week ending July 8, US commercial bank deposits fell to approximately $19.36 trillion, a decrease of about $74 billion from the previous week, mainly reflecting short-term fluctuations in the banking system's deposit balance. ⑵ From the perspective of fund flows, the deposit reduction may be related to the fading quarter-end effect, competition among money market funds, and the migration of some funds to higher-yield assets. Specific structural changes need to be assessed in conjunction with data from the following weeks. ⑶ From a market psychology perspective, the marginal decline in deposit size is not yet sufficient to constitute a systemic trend signal. However, given the Fed's maintenance of high interest rates, the persistence of deposit disintermediation pressure remains an important entry point for the market to focus on banking system liquidity. ⑷ Going forward, attention should be paid to whether deposit changes are accompanied by adjustments in large-denomination certificate of deposit rates or changes in commercial bank financing strategies, and whether they have a chain reaction impact on the pace of credit issuance. This will determine the potential significance of this indicator.

[Fifth Air Raid Siren Issued in Kuwait] At approximately 8:00 AM local time on the 18th, the fifth air raid siren of the day was issued in Kuwait. The Kuwaiti military subsequently issued a statement saying that its air defense system was intercepting "hostile" aerial targets entering Kuwaiti airspace. The statement also urged the public to comply with previously issued government safety guidelines and take measures to ensure safety in place. There are currently no reports of casualties. Earlier that day, the Iranian military claimed responsibility for strikes against US bases located in Kuwait and Jordan. (CCTV News)

Iran's Islamic Revolutionary Guard Corps claimed it attacked a U.S. Navy fuel supply terminal in Kuwait's port of Al-Ahmadi.