MNI China Daily Summary: Tuesday, July 30

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: EUROZONE Q2 PRELIM FLASH GDP +0.6% Y/Y

MNI: EUROZONE Q2 FLASH GDP +0.3% Q/Q

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

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

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Equities, Oil Pressured; Tsys Firm In Early Risk-Off Tone

CROSS ASSET

US Equity Futures are pressured in early Asian trade on Thursday, e-minis are down ~0.6%. Concerns on US regional banks are continuing, PacWest fell as much as 60% in post market trade following a report that it's said to weigh strategic options including a sale. The White House CEA also released a report outlining various economic scenarios for the debt ceiling/potential default (see this link for more details).

  • WTI is pressured falling as much as 7% before paring losses to currently sit ~4% lower.
  • US 10 Year Tsy futures are firmer up 0-24+ last printing at 116-21.
  • In the FX space AUD and NZD are under pressure, both are down ~0.3% as softer US Equity futures weigh. Yen is outperforming at the margins, USD/JPY is back to 134.50, leaving AUD/JPY and NZD/JPY nearly 0.50% weaker since the open.
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