BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

New Home Sales Activity And Prices Continue To Cool

US EIA: CRUDE OIL STOCKS EX SPR -3.74M TO 436.5M JUL 19 WK

Services PMI Gains Continue To Diverge From Soft Manufacturing

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

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Stocks Close At Highest level Since 2017

MEXICO
  • Mexico stocks closed up 1.6% at highest level since 2017 following the results of the mid-term elections. The Mexican Peso was also a beneficiary post the results, firming to around 19.80 and approaching the May lows at 19.72. In failing to clinch a supermajority in the lower house, the president's party will have a far harder time seeking to overhaul Mexico's Constitution.
  • Vice President Kamala Harris is closing out her first foreign trip Tuesday with a visit to Mexico, following yesterday's visit to Guatemala. She will meet with President AMLO, a key but complicated ally in the Biden administration's efforts to curb the spike in migration at the U.S. border.
  • Goldman Sachs recommends investors go long Mexican banks as an attractive current-account balance and modest fiscal deficit make the nation a safer bet than other emerging markets. (Bloomberg)
    • Results of elections suggest that the current administration will probably face a higher bar in order to pass more ambitious legislation.
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