MNI China Daily Summary: Friday, February 3

MNI BRIEF: Professional Forecasters Up Inflation Outlook: ECB

MNI BRIEF: China To Fully Reopen Borders With HK and Macau

MNI: US ISM JAN SERVICES COMPOSITE INDEX 55.2

RBA Watch

MNI: US JAN S&P GLOBAL FINAL SERVICES PMI 46.8 (FLASH 46.6); DEC 44.7

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

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Pelosi To Step Down As Top Democrat In The House

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House Speaker Nancy Pelosi (D-CA) is expected to announce imminently that she will step down as leader of the House Democratic Caucus after two decades in the job.

  • Tara Palmeri at Puck News writes: "On the House floor at noon, Pelosi will say in a speech [...] that she intends to pass the torch to the next generation of leadership but will stay on as a backbencher to help guide future leader Hakeem Jeffries [D-NY]."
  • Nicholas Wu at Politico: "House Majority Whip Jim Clyburn [D-SC] says Pelosi’s future didn’t come up [in today's Whip meeting]. He says he still wants to be in leadership but the specific role is “up to the caucus” Hakeem Jeffries is “absolutely fantastic,” he adds."
  • Clyburn's support is seen as crucial for Jefferies to overcome a rival bid from Rep. Adam Schiff (D-CA) and allow a smooth leadership transition.
  • Republican House Minority Leader Kevin McCarthy (R-CA) has been nominated by House Republicans as Speaker-elect but will face a challenger gathering the votes required for a January floor vote, due to opposition from members of the right-wing Freedom Caucus.
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House Speaker Nancy Pelosi (D-CA) is expected to announce imminently that she will step down as leader of the House Democratic Caucus after two decades in the job.

  • Tara Palmeri at Puck News writes: "On the House floor at noon, Pelosi will say in a speech [...] that she intends to pass the torch to the next generation of leadership but will stay on as a backbencher to help guide future leader Hakeem Jeffries [D-NY]."
  • Nicholas Wu at Politico: "House Majority Whip Jim Clyburn [D-SC] says Pelosi’s future didn’t come up [in today's Whip meeting]. He says he still wants to be in leadership but the specific role is “up to the caucus” Hakeem Jeffries is “absolutely fantastic,” he adds."
  • Clyburn's support is seen as crucial for Jefferies to overcome a rival bid from Rep. Adam Schiff (D-CA) and allow a smooth leadership transition.
  • Republican House Minority Leader Kevin McCarthy (R-CA) has been nominated by House Republicans as Speaker-elect but will face a challenger gathering the votes required for a January floor vote, due to opposition from members of the right-wing Freedom Caucus.