MNI China Press Digest July 17:  Investment, LPR, H2 Priority

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CHINA SETS YUAN CENTRAL PARITY AT 7.1318 WED VS 7.1328

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

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It will be another busy week......>

EUROZONE ISSUANCE
EUROZONE ISSUANCE: It will be another busy week for issuance with Italy, Germany
and Belgium coming to market. We estimate gross issuance will be E20bln,
slightly higher than last week's E18.0bln but there are no big redemptions or
coupon payments due. We estimate this will leave net flows at E19.4bln compared
to E-2.4bln in the prior week.
- RECAP: Belgium sold E2.81bln in OLOs on Monday. Germany allotted E3.2bln of
the Sep21 Schatz on Tuesday. Italy sold E1.50bln of the Jun-21 CTZ and E0.45bln
of the 2.55% Sep-41 BTPEi on Wednesday. On the same day Germany allotted
E2.38bln of the 0.0% Aug-29 bund.
- ISSUANCE: Finally, Italy will come to the market again to round off the week
on Friday, with sales of the 0.35% Feb-25 BTP, 1.35% Apr-30 BTP and the Jan-25
CCTeu for a combined E6.25-7.50bln.
- CASH FLOWS: There are E0.2bln in redemptions and E0.2bln in coupon payments,
leaving net cash flows at E19.6bln. **For full details please see MNI Cash Flow
Matrix and Issuance Profile: https://emedia.marketnews.com/CFM230919qat.pdf
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