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Why MNI
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMorgan Stanley Say Russia May be Selling $4b of Yuan Per Month
- Morgan Stanley strategists say Russia’s public and private sectors may be selling $4b worth of yuan every month this year. The central bank is selling RUB3.6b equivalent of yuan every day on behalf of the Wellbeing Fund, MS say citing official data. The fund holds $145b in assets, with an approximate allocation of 60% in liquid assets and 40% in illiquid assets. 60% of the liquid assets ($52 billion) could be in yuan while the rest are gold.
- Tax debts of companies to the state treasury increased by a third to RUB2.5trln in 2022, according to Izvestia. Experts say that companies have been facing problems due to a lack of working capital, so they have had debts for VAT, income tax, and current payments.
- The CBR will publish preliminary current account data for Q2 (Est: USD10.5b) at 1400BST/1600 local time. CPI data (Est: +3.3% y/y; Prior: +2.51%) is the key release of the week tomorrow afternoon.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.