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MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

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Japan Tokyo Jul Core CPI +2.2% Y/Y

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MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

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White House Press Gaggle Underway Shortly

US

White House Press Secretary Karine Jean-Pierre is shortly scheduled to deliver a press gaggle from Air Force One en route to Albuquerque, New Mexico where President Biden will deliver remarks on student debt relief.

  • Livestream: https://www.whitehouse.gov/live/
  • Biden plan to use his Albuquerque remarks to argue that Republican plans to scrap his student debt relief plan will hit Black and Latino Americans the hardest.
  • Biden will say that "70% of Black undergraduate borrowers who are Pell Grant recipients wont be able to get up to $20,000 in student debt relieved," and "almost half of Latino borrowers would see their entire student debt balance cancelled under the Biden Administrations plan. But if Republican officials get their way, these borrowers will remain under the burden of student loan debt."
  • The White House will be hoping that his plan can convince Gen Z, a demographic that nominally leans Democrat but stubbornly avoids the ballot box, will turn up to vote.
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