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

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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Goldman Sachs Note Domestic Risks Prompt COP Risk Premium Spike

COLOMBIA
  • Despite the strong performance for the Colombia Peso today following the below-estimate inflation data over the weekend, Goldman Sachs note that domestic risks in Colombia have taken their estimate of COP risk premium to the largest level in LatAm and have led to a volatile trading pattern over the last month.
  • Over the last week, three departures from President Petro’s cabinet have extended investor concerns around political outcomes, with uncertainty to remain elevated as additional policy reforms are expected to be submitted in the next couple of months (including a pension reform that GS economists think could strain government funding).
  • GS believe the real upside for COP is instead in the prospect that oil “joins in” the global cyclical re-rating.
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