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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Williams Maintains Position Near Dovish End Of FOMC Spectrum

FED
  • Williams (voter) Q&A still ongoing but comments so far have mostly been in keeping with his position towards the dovish end of the FOMC spectrum.
  • Inflation is too high but moving gradually in the right direction. Low, stable inflation is really critically important.
  • I see an economy that is growing at a modest pace continuing to move forward and really getting supply and demand into balance.
  • WILLIAMS: NEED TO MONITOR ECONOMIC FEEDBACK FROM FED’S ACTIONS - bbg
  • WILLIAMS: TAKES WHILE FOR FED DECISIONS TO FULLY AFFECT ECONOMY - bbg
It helps take the edge off the most recent step higher in Fed Funds implied rates, back closer to post-retail sales levels for June but still with sizeable increases on the day thereafter. Pertinent cumulative changes from the current effective 5.08%: +3bps for Jun (unch), -16bp Sep (+4bp), -59bp Dec (+8.5bp).
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

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