Equity Research Report Strategy Market Dynamics Post Carry Trade Reversal Huatai Research 13 August 2024 | China (Mainland) Weekly Market to remain volatile in short run, with focus on high-low rotation Weak M1 data in yoy terms, low expectations for the long-term credit cycle, and foreign capital outflow due to election trading have rapidly driven up market risk premiums since June. Strengthened expectations for Fed rate cuts and RMB appreciation have unlocked room for domestic monetary policy, in our view ...