MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Indeed Wages Tick Higher, But Future Revisions Are Likely

ITALY MAY INDUSTRIAL PRODUCTION +0.5% M/M ; -3.3% WDA Y/Y

Contrasting Momentum Dynamics Underscore Need For July Data

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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Ninth Public Hearing Of The January 6 Committee Underway

US

The January 6 Committee is now holding its ninth, and likely final public hearing.

  • The hearing is available to follow live on the Jan 6 Committee website: https://january6th.house.gov/
  • Politico provides a breakdown of the committee's goals: “(1) correct the historical record of the aftermath of the 2020 election; (2) present the case that former President Donald Trump was at the center of a scheme to overturn the results of a free and fair election; and (3) outline an ongoing attack on American democracy.”
  • Today’s hearing is expected to tie all the threads together ahead of a final report likely to be released in December. If the GOP takes control of the House in January, then the committee will certainly be disbanded.
  • The committee is unlikely to make a formal criminal referral to the Department of Justice but committee members have publicly stated that they believe Trump violated laws in an effort to maintain power.
  • The political impact of the committee hearings on next months midterms is likely to be minimal with both GOP and Democrat candidates tending to avoid mention of Trump's legal woes on the campaign trail.
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