MNI China Press Digest July 2: PBOC, FDI, Land Revenue

MNI: PBOC Net Drains CNY298 Bln Via OMO Tues; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

MNI: PBOC Sets Yuan Parity Higher At 7.1291 Tues; -0.09% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1291 TUES VS 7.1265

MNI China Daily Summary: Monday, July 1

June CPI Below Market Expectations, Headline Y/Y At 2.4%

MNI: UK JUN BRC SHOP PRICES -0.2% M/M, +0.2% Y/Y

Multivariate Core Trend Inflation Falls To Post-2020 Low

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

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

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MNI POLITICAL RISK - Democrats Begin Prep On 2025 Tax Agenda

US
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  • Progressive Democrat Senator Elizabeth Warren (D-MA) will deliver a speech today calling on Democrats to “stiffen” their spines for the upcoming debate on taxation as former President Donald Trump’s first-term tax cuts are set to expire in 2025.
  • President Biden enjoyed the best fundraising day of his campaign on Saturday, raising more than USD$30 million at a Hollywood event.
  • Biden’s campaign is out with a new USD$50 million ad buy for June, which will focus on Trump’s character explicitly referencing three legal cases for the first time. The strategy could be risky for Biden, as some Democrat operatives have expressed concern that any move to directly target Trump’s legal issues could feed into Trump’s narrative of political persecution.
  • The Biden administration is planning to release more oil from the Strategic Petroleum Reserve if there is a spike in oil prices this summer.
  • The US announced USD$1.5 billion to bolster Ukraine’s energy and civil sectors and address humanitarian needs ahead of the Ukraine summit for peace which took place in Lucerne, Switzerland, June 15-16.
  • Rep Steny Hoyer (D-MD) will lead a bipartisan group of nine House representatives to Israel this week for, “high-level meetings with top Israeli leaders.”
  • Poll of the Day: 25% of Americans hold an unfavourable view of both President Biden and former President Trump - the highest share of "double haters" at this stage in any of the last 10 elections.
Full article: US Daily Brief
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  • Progressive Democrat Senator Elizabeth Warren (D-MA) will deliver a speech today calling on Democrats to “stiffen” their spines for the upcoming debate on taxation as former President Donald Trump’s first-term tax cuts are set to expire in 2025.
  • President Biden enjoyed the best fundraising day of his campaign on Saturday, raising more than USD$30 million at a Hollywood event.
  • Biden’s campaign is out with a new USD$50 million ad buy for June, which will focus on Trump’s character explicitly referencing three legal cases for the first time. The strategy could be risky for Biden, as some Democrat operatives have expressed concern that any move to directly target Trump’s legal issues could feed into Trump’s narrative of political persecution.
  • The Biden administration is planning to release more oil from the Strategic Petroleum Reserve if there is a spike in oil prices this summer.
  • The US announced USD$1.5 billion to bolster Ukraine’s energy and civil sectors and address humanitarian needs ahead of the Ukraine summit for peace which took place in Lucerne, Switzerland, June 15-16.
  • Rep Steny Hoyer (D-MD) will lead a bipartisan group of nine House representatives to Israel this week for, “high-level meetings with top Israeli leaders.”
  • Poll of the Day: 25% of Americans hold an unfavourable view of both President Biden and former President Trump - the highest share of "double haters" at this stage in any of the last 10 elections.
Full article: US Daily Brief