MNI BRIEF: Foreign Firms Content In China

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

Unemployment Falls To 11.3% In Q2, Driven By Services

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Daly On Preferred Rate Path

FED
  • SF Fed’s Daly (’24 voter) repeats that she sees 50bp hikes at the next two meetings as part of wanting to get to neutral at about 2.5% to look to see what more needs doing once there.
  • She isn’t forecasting beyond July because more data is needed but notes that whilst the Fed must remove accommodation it must also be open to data.
  • Mixed on labor developments: “Business contacts are ‘fiercely competing’ for workers”, but equally, “contacts don’t see consistent requests for higher wages” and she doesn’t see signs of a wage-price spiral.
  • On QT: SEE BALANCE SHEET TRIMMING DELIVERING ABOUT 25 BPS OR 50 BPS OF TIGHTENING - RTRS
  • Little further impact in Fed Funds which have already increased firmly following the ISM mfg beat, sitting near the day’s highs at 102bps for July and 197bps of hikes priced to year-end with the latter more than unwinding last week’s drop on weak US data, including the PMI miss.
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.