MNI China Press Digest July 18: PBOC, Beijing, Arctic Shipping

MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1285 Thurs; -1.29% Y/Y

CHINA PBOC CONDUCTS CNY49 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1285 THU VS 7.1318

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

Australia Jun Unemployment Rate 4.0%

Japan Jun Exports +5.4% Y/Y; Imports +3.2% Y/Y

MNI:AUSTRALIA JUN UNEMPLOYMENT RATE +4.1%

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

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MNI Fed Balance Sheet Tracker - April 21, 2023

FED
We've just released our latest Fed Balance Sheet Tracker:
  • U.S. bank usage of Fed liquidity facilities ticked slightly higher in the week ending Apr 19, reversing some of the previous week’s payback of recent “emergency” borrowing. But the latest couple weeks’ data, overall, suggest stability is returning to the banking sector.
  • The liabilities side of the balance sheet has seen a strong pullback in bank reserves. Accounting for most of this reversal has been a sharp increase in the US Treasury’s account at the Fed.
  • The broader question is whether the cash available to Treasury going into the summer is sufficient to stave off the "x-date" in which it runs out of cash. A weak tax collection season could bring that date forward to as soon as early June.

    For full PDF analysis:

    FedBalanceSheet-Apr212023.pdf

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