MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: FRANCE Q2 FLASH GDP +0.3% Q/Q, +1.1% Y/Y

MNI: FRANCE JUN CONSUMER SPENDING -0.5% M/M, -1% Y/Y

Australia Jun Total Dwelling Approved -6.5%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Biden Discussing Build Back Better With CEOs Now

WHITE HOUSE

14:30 ET 19:30 GMT President Biden is meeting with CEOs of Electric Utilities to Discuss his Build Back Better Agenda. The event can be viewed here.


  • Today's event will claim that Biden's Build Back Better legislation is essential for tackling climate change.
  • It is unclear what the current White House strategy is on BBB. This week Biden has also been touring the social elements of the bill with a White House event on Child Tax Credit scheme yesterday.
  • Senator Joe Manchin (D-WV) the most important person in the BBB episode continues to state that the bill is 'dead'. Machin has told the press that negotiations have not recommenced but neither the White House nor Senate Majority Leader Chuck Schumer (D-NY) appear willing to sacrifice the bill or the name Build Back Better.
  • Today's event may signal that the climate portion of the bill may be retained. It is the most likely to receive Manchin's rubber stamp as he has in the past agreed to many of the clean energy provisions and subsidies in the bill.
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