BRAZIL: BCB's Galipolo Says US Monetary Policy Key For Local Monetary Policy

• EUR/USD: $1.1425-30(E607mln), $1.1500(E629mln), $1.1540-50(E830mln), $1.1600(E772mln), $1.1650(E1.7bln), $1.1700-20(E1.5bln), $1.1725-45(E2.1bln)
• USD/JPY: Y145.00($1.3bln), Y146.65-70($1.0bln), Y147.50-55($1.1bln), Y147.85-00($757mln)
• EUR/JPY: Y172.50(E706mln)
• AUD/USD: $0.6530-50(A$736mln), $0.6600(A$968mln)
• USD/CAD: C$1.3770($540mln)

• Date $MM Issuer (Priced *, Launch #)
• 07/28 $12B #Mexico 5Y +170
• 07/28 $2.75B #RBC $1.25B 4NC3 +62.5, $500M 4NC3 SOFR+88, $1B 6NC5 +73
• 07/28 $2B #Deutsche Bank $1.7B 6NC5 +98, $300M 6NC5 SOFR
• 07/28 $1.5B Community Health Systems 8.5NC3 9.5%a
• 07/28 $750M #M&T Bank 10NC5 +143
• 07/28 $600M #Ally Financial 8NC7 +137
• 07/28 $650M EW Scripps 5NC2 investor calls (expected to launch 7/29)

A Wall Street Journal survey has found that the Democratic Party’s image “has eroded to its lowest point in more than three decades, with voters seeing Republicans as better at handling most issues that decide elections.”

• The Journal notes: “The new survey finds that 63% of voters hold an unfavorable view of the Democratic Party—the highest share in Journal polls dating to 1990 and 30 percentage points higher than the 33% who hold a favorable view.”
• Democratic pollster John Anzalone said: “The Democratic brand is so bad that they don’t have the credibility to be a critic of Trump or the Republican Party. Until they reconnect with real voters and working people on who they’re for and what their economic message is, they’re going to have problems.”
• Axios writes of the report: “For all the talk of President Trump's plunging approval rating, voters still trust Republicans over Democrats on immigration (+17), inflation (+10), foreign policy (+8) and more.”

Figure 1: Net Favourability of Each Party

Source: Wall Street Journal