MNI China Daily Summary: Monday, June 17

MNI BRIEF: China To Retaliate Against EU Pork Products

MNI BRIEF: China Consumption Can Continue Acceleration - NBS

MNI: PBOC Conducts CNY182 Bln Via 1Y MLF Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1149 Mon; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY4 BILLION VIA 7-DAY REVERSE REPOS MON

Empire Survey Shows Improving Manufacturing Optimism At End-Q2

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +41.2B CAD IN APR

MNI: US NY FED EMPIRE STATE MFG INDEX -6.0 JUN

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Treasury to Curb OFZ Issuance in 2021; Nord Stream 2 Sanctions Threat Remains

RUSSIA
Local News
  • Finance Ministry plans to scale back OFZ issuances in 2021 and beyond, hoping the budget will not need a covid-size borrowing package going forward - according to a senior official.
  • Will curb issuance from RUB 5.2tn in 2020 to 3.7tn in 2021. Roughly RUB 350bn in OFZ issuance is still in the pipeline for 2020 with foreign share of OFZ holdings steady at ~25-30%.
  • Treasury says it cannot rule out sanctions on state debt, but deems them unlikely as it will be against the interests of foreigners - RTRS
  • Biden urged to extend the START treaty 5 Years to limit deployed nuclear arms as the Feb deadline approaches.
  • Analysts warn failure to do so could result in a renewed nuclear arms race - BBG
  • EU companies remain committed to the Nord Stream 2 project, despite US sanctions pressure with the expected 2x increase in gas flows a major component of securing energy security for Germany and other EU beneficiaries.
  • On the flip side, the pipeline potentially boosts Russian leverage in EU economies while squeezing out US competitors.
  • Latest round of US sanctions should be included in its December Defense Bill. Timelines for pipeline production remaining uncertain. (BBG)
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market News
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market News

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