MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

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

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

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

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BMO On Refunding: Modest Selling Pressure Consistent W Risk Balance

US TSYS

BMO FICC quick take on today's Treasury Refunding announcement: says while it was in line with expectations, with the presumed next shift in auction sizes to be lower "eventually", "the modest selling pressure in the wake of the announcement is consistent with the balance of the risks".

  • Re the debt ceiling, " Treasury emphasized the difficulty in estimating how long the extraordinary measures will allow for funding and noted expectations for Congress to raise or suspend the debt limit after July 31 -- not news per se."
  • Re SOFR floater: "the prospects for such are dimming the longer the process drags on".
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