MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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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House To Vote On Rule For Foreign Aid Package At 10:30ET/15:30BST

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House Speaker Mike Johnson (R-LA) has circulated a memo confirming that the House of Representatives will hold a vote on the rule for the USD$95 billion national security supplemental package at 13:30 ET 15:30 BST. Johnson's memo notes that the House will vote on final passage of the entire package at 13:30 ET 18:30 BST on Saturday.

  • Johnson will again lean on a highly unusual bipartisan coalition to pass the rule. Democrats are expected to step in to offset opposition from House conservatives. More in today's edition of the US Daily Brief.
  • As well as aid for Ukraine, Israel, and the Indo-Pacific, a fourth 'sidecar' bill includes the TikTok divestiture bill and includes elements from two pieces of potentially significant legislation to target Iran’s crude oil trade.
  • H.R. 5923, the “Iran-China Energy Sanctions Act,” which passed earlier this week and would make it harder for China to buy Iranian oil. And H.R. 3774, "Stop Harboring Iranian Petroleum (SHIP) Act," which would sanction entities that help Iran trade its oil.
  • A prevailing view that Senate would likely to water down any attempt to sanction the Iran-China crude oil trade to prevent additional pressure on oil markets has softened in light of rising political will to apply meaningful sanctions on Iran. The amendment process today may be key to determining the language of the final package.
  • ClearView Energy Partners said in a note to clients Monday that the sanctions, if passed into law and enforced, could result in an increase of as much as 20 cent per gallon on gasoline prices.
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House Speaker Mike Johnson (R-LA) has circulated a memo confirming that the House of Representatives will hold a vote on the rule for the USD$95 billion national security supplemental package at 13:30 ET 15:30 BST. Johnson's memo notes that the House will vote on final passage of the entire package at 13:30 ET 18:30 BST on Saturday.

  • Johnson will again lean on a highly unusual bipartisan coalition to pass the rule. Democrats are expected to step in to offset opposition from House conservatives. More in today's edition of the US Daily Brief.
  • As well as aid for Ukraine, Israel, and the Indo-Pacific, a fourth 'sidecar' bill includes the TikTok divestiture bill and includes elements from two pieces of potentially significant legislation to target Iran’s crude oil trade.
  • H.R. 5923, the “Iran-China Energy Sanctions Act,” which passed earlier this week and would make it harder for China to buy Iranian oil. And H.R. 3774, "Stop Harboring Iranian Petroleum (SHIP) Act," which would sanction entities that help Iran trade its oil.
  • A prevailing view that Senate would likely to water down any attempt to sanction the Iran-China crude oil trade to prevent additional pressure on oil markets has softened in light of rising political will to apply meaningful sanctions on Iran. The amendment process today may be key to determining the language of the final package.
  • ClearView Energy Partners said in a note to clients Monday that the sanctions, if passed into law and enforced, could result in an increase of as much as 20 cent per gallon on gasoline prices.