MNI China Daily Summary: Thursday, May 23

MNI BRIEF: China Issues Measures To Cut Cost For Real Economy

MNI BRIEF: Headwinds For EU Banks As Profitability Boom Ends

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Higher At 7.1098 Thurs; -2.89% Y/Y

Negotiated Wages Accelerate In Q1 Following German One-off Payments

MNI: UK MAY FLASH MANUFACTURING PMI 51.3 (FCST 49.5); APR 49.1

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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BMO's Aaron Kohli noted US existing...>

US DATA REACT
US DATA REACT: BMO's Aaron Kohli noted US existing home sales for November "were
much stronger than expected at 5.81 million vs. consensus of 5.53 million and
against an upwardly revised 5.50 million in October. That led the MoM print to
jump to 5.6% from a prior read of 2.4%. Supply of homes dipped to 3.4 months
from 3.9, an all time low."
- He adds that such "gains were broad based with condos and single family sales
both up strongly. Existing home sales make up the bulk of home sales in the US
by far and are a more stable barometer of the housing market than new home sales
and the construction figures (starts & permits) that were released yesterday.
Treasuries are mostly moving sideways on the release."

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