MNI China Daily Summary: Monday, Aug 19

CORRECTED-MNI RIKSBANK WATCH: August Cut On Cards

MNI: China CFETS Yuan Index Down 0.14% In Week of Aug 16

MNI: PBOC Net Drains CNY22.4 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1415 Mon; +1.99% Y/Y

CHINA PBOC CONDUCTS CNY52.1 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK Bond Supply Calendar: Finland Syndi; Green Bunds Due Tues

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Japan Jun Machine Orders 2.1% M/M

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

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MNI POLITICAL RISK - House Conservatives Protest FY24 Agreement

US
  • Twelve conservative House Republicans yesterday torpedoed a procedural vote in protest of House Speaker Mike Johnson’s (R-LA) FY2024 topline spending deal with Senate Majority Leader Chuck Schumer (D-NY).
  • The move demonstrates that, despite the installation of Speaker Johnson - a staunch conservative -, 2024 will be riven by the same Republican fractures which led to the ouster of former House Speaker Kevin McCarthy.
  • Schumer is expected to tee up a placeholder today for a Continuing Resolution to avoid a partial government shutdown on January 20. The process usually takes around a week.
  • Senate negotiations on an overhaul of US-Mexico border policy appear to be making progress but divisions between Senate and House Republicans could scupper a final deal.
  • The White House continues to threaten consequences if Houthi attacks in the Red Sea continue.
  • Florida Governor Ron DeSantis (R-FL) and former South Carolina Governor Nikki Haley squared-off yesterday in the last Republican presidential debate before the Iowa caucuses. Former New Jersey Governor Chris Christie suspended his campaign yesterday leaving Haley's narrow window to the nomination ajar.
  • Trump will make his second court appearance this week – attending closing arguments for his civil business fraud trial in New York City.
  • US Commerce Secretary Gina Raimondo and her Chinese counterpart held an, "in-depth and pragmatic communication," today.
  • A major bipartisan deal on child tax credits and business tax benefits is facing, "new roadblocks."
  • Poll of the Day: Nikki Haley has gained ten points on former President Trump since November in New Hampshire.
Full article: US Daily Brief
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