MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

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: NORTH RHINE WESTPHALIA CPI +0.3% M/M, +2.3% Y/Y

MNI: GERMANY Q2 FLASH GDP  -0.1% Q/Q (+0.1% FCST, +0.2% PRIOR)

MNI: ITALY Q2 FLASH GDP  +0.2% Q/Q (+0.2% FCST, +0.3% PRIOR)

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

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Biden To Deliver Remarks On Climate During California Campaign Trip​

US

President Biden is shortly due to deliver remarks on climate and the administration's plan to create jobs in the green energy sector as part of his multi-day California trip designed largely to raise funds for his 2024 campaign.

  • Livestream:LINK
  • LA Times: "President Biden plans to unveil more than $600 million in federal spending to fight the effects of climate change on Monday in Palo Alto. But much of his multi-day visit to California is focused on raising money, notably from Silicon Valley tech leaders, for his 2024 reelection campaign."
  • Reuters: "The president's trip to California will also see him raise campaign cash from tech and climate donors as he races to raise over a billion dollars for his re-election fight."
  • According to the nonpartisan Center for Responsive Politics of Donations, Biden raised, around USD$300m in California, more than 20% of his total 2020 campaign financing - more than any other state.

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