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CB Insights graphic showcasing an interesting question: JPM or a Fintech index?

Traders are seeing hints that India's central bank is seeking to drain record liquidity from the banking system, another sign that the global flood of pandemic-era easy money may begin to ease. The Reserve Bank of India is increasingly shifting its forex intervention to the forwards market to keep from injecting rupee liquidity. @Bloomberg

The Swiss National Bank is retaining its ultra-loose monetary policy, it said on Thursday, despite early moves by the European Central Bank and the U.S. Federal Reserve to start normalising policy during the post-pandemic recovery. The SNB kept its policy rate locked at minus 0.75%, as unanimously forecast by economists in a Reuters poll, the same rate it charges on sight deposits held by commercial banks. The central bank repeated its commitment to foreign exchange interventions "as necessary" to curb the appreciation of the safe-haven Swiss franc, which it continued to describe as "highly valued". @Yahoo

The Chinese central bank increased its gross injection of short-term cash into its financial system after concern over a debt crisis at China Evergrande Group roiled global markets. Indeed, there was a strong need to calm down markets, as Chinese stocks are tumbling with the CSI 300 Index falling 1.9% on Wednesday only. However, analysts believe that Evergrande will not be a second episode to the Lehman Brothers series. Source: Bloomberg

Putting the Archegos problems aside, in aggregate, the top 12 banks saw first half equities trading revenues surge 42% to $32 billion, which is its best in a decade. French banks bore the brunt of the turmoil created by the pandemic in 2020 as firms canceled dividends, which hit the banks' structure derivative business. The French banks' recovery in the second quarter was a key driver of equities revenue growth in Europe. @S&PGlobal