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 China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

Australia Jun Total Dwelling Approved -6.5%

MNI: AUSTRALIA MAY BUILDING APPROVALS -6.5% M/M, -3.7% Y/Y

MNI: AUSTRALIA JUN DWELLING APPROVALS -6.5% M/M

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

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MNI POLITICAL RISK - Congress On Narrow Track To Avoid Shutdown

US
  • Funding for six government agencies representing roughly two-thirds of discretionary federal spending runs out at midnight on Friday. Five of the six FY24 bills are reportedly ready to go but a deal on the Department of Homeland Security remains stalled by disputes on border security.
  • Last week, appropriators appeared set to punt border policy by funding DHS with a continuing resolution through the end of FY24. But after a weekend intervention from the White House, negotiators have pivoted back to a full-year spending bill with the text expected today.
  • If the final deal is released today, the earliest the House can vote is Thursday - leaving the Senate with just one day to clear the package before the deadline. The tight timeline points to a moderate risk of a short government shutdown but as the chamber would likely grind down opposition over the weekend any economic or political fallout would be negligible.
  • Senate Majority Leader Chuck Schumer (D-NY) may have to schedule a cloture vote on the USD$78 billion bipartisan tax bill this week or risk the legislation stalling permanently in the Senate Finance Committee.
  • There is a slight chance that two of former President Donald Trump’s four criminal trials could get underway before the election in November after prosecutors in Georgia and New York avoided worse-case scenario rulings.
  • Trump’s economic advisors have presented the former president with a shortlist of three potential candidates to lead the Federal Reserve.
  • Poll of the Day: Iran climbs the list of US enemies.
Full article: US Daily Brief
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