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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Jordan Loses Ground In Second Speaker Ballot

US

GOP nominee for Speaker of the House of Representatives, Jim Jordan (R-OH), has registered fewer votes in his favour than he did in yesterday's first ballot.

  • The rollcall suggests that he is on track to receive fewer than 200 votes, a number which former House Speaker Kevin McCarthy (R-CA) never dipped below during 15 ballots in January. Jordan's failure to improve his count suggests his candidacy is unviable.
  • Jake Sherman at Punchbowl News reports that House Republicans, "are likely to go into a closed party meeting after [Jordan] loses this vote."
  • The path forward is unclear but another ballot today appears unlikely. House Republicans may choose to hold a vote on empowering Speaker Pro Tem McHenry (R-NC) with enhanced authority to move legislation for a pre-determined period.
  • If Republicans chose to undertake a third round of internal deliberations to advance a third nominee for speaker it would eat up additional House time and imperil Congressional aid to Ukraine/Israel and greatly increase the risk of a government shutdown on November 17.
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