MNI: PBOC Sets Yuan Parity Lower At 7.1323 Thurs; -0.83% Y/Y

CHINA PBOC CONDUCTS CNY10.37 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1323 THURS VS 7.1346

MNI: BRAZIL CENTRAL BANK HOLDS SELIC RATE AT 10.50%

MNI China Daily Summary: Wednesday, July 31

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI:AUSTRALIA JUN TRADE BALANCE A$+5589

July Export Growth Below Expectations, But Still Improvement On June

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

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

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Stocks Buoyed Off Lows as Cross-Aisle Differences Narrow

EQUITIES
  • Equity markets started the US session poorly, with the e-mini S&P rolling further off the weekly highs to hit new weekly lows of 4,165.25.
  • This downside stalled and partially reversed however, as The Washington Post reported that the White House could offer to drop their requested corporate tax rate hike in a proposed infrastructure bill, thereby narrowing the cross-aisle gap and making the legislation a more realistic prospect.
  • Recovery off the lows failed to nudge the S&P 500 cash index back into positive territory, with the tech and consumer discretionary sectors slipping, while financials and energy only notched up minor gains.
  • European indices were similarly mixed, with Italy's FTSE-MIB and Germany's DAX gaining, while UK, French and Spanish markets closed lower.
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