MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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Russia Dodges Default as Some Investors Receive Dollar Funds

RUSSIA
  • Russia’s closely watched dollar payments on two bonds are trickling through to investors after the country dipped into its local holdings of the U.S. currency and sidestepped its first foreign default in a century.
  • Three investors who asked not to be identified said their custodian banks had received payments. At least one major international clearinghouse has received and processed payments for the eurobonds due in 2022 and 2042, according to people familiar with the transaction who weren’t authorized to speak publicly on the matter.
  • U.S. sanctions currently include a broad exemption for sovereign bond payments. That runs out on May 25, and the Treasury’s Office of Foreign Assets Control hasn’t said if it will be extended. If it isn’t, that raises a major hurdle for payments due just days later for interest owed on sovereign notes.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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