LNG: China’s Easing of Fertilizer Exports to India Neutral For LNG

• MNI: US JUL PHILADELPHIA FED NONMFG INDEX -10.3

• Date $MM Issuer (Priced *, Launch #)
• 07/22 $Benchmark JFM (Japan Finance Org for Munis) 5Y SOFR+68a
• 07/22 $Benchmark Wells Fargo 2031-tap +95a
• $14.4B Priced Monday

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• President Donald Trump will meet with Philippine President Ferdinand Marcos Jr. at the White House for a bilateral meeting and working lunch. In the evening, Trump will meet with Republican members of Congress.
• Treasury Secretary Scott Bessent said the White House is “about to announce a rash of trade deals in coming days.”
• Commerce Secretary Howard Lutnick had “frank" discussions yesterday with Japan’s chief trade negotiator Ryosei Akazawa. Bessent said he will not be “surprised if we can iron out something [with Japan] quickly.”
• A bipartisan delegation of US Senators met with Canadian Prime Minister Mark Carney yesterday to discuss lumber, metals, and a digital services tax.
• The White House claims that data on business equipment production signals a surge in business investment.
• The CBO published its final score for the GOP’s One Big Beautiful Bill.
• A procedural vote in the Senate today will provide a temperature check on whether the government is likely to shut down on October 1.
• Bessent called for a “exhaustive internal review” of the Fed's “non-monetary policy operations.”
• A group of European countries, Australia, Canada, New Zealand, and Japan, issued a joint statement saying the war in Gaza “must end now”.
• Ukraine and Russia will hold another round of peace talks in Istanbul on Wednesday. The Kremlin cautioned against expecting "miraculous breakthroughs".
• Poll of the Day: Consumer sentiment is increasing amongst high earners, but stagnating at lower levels.

Full Article: US DAILY BRIEF