US: MNI POLITICAL RISK - China On Agenda For Biden-Meloni Bilat
Jul-27 12:29
- President Biden is expected to discuss Italy's future within China's Belt and Road infrastructure project with Italian Prime Minister Giorgia Meloni at the White House today.
- The House of Representatives voted yesterday to open debate on MilCon-VA, the first of twelve FY2024 spending bills, but a second bill remains in limbo amid divisions within the GOP on spending and social issues.
- Further questions are set to be asked about the age of elected representatives after Senate Minority Leader Mitch McConnell (R-KY) suffered a public health incident during a press conference yesterday.
- A case involving President Biden’s son, Hunter Biden, is on hold after a plea deal broke down yesterday. The younger Biden’s legal problems are expected to play a prominent roll in the leadup to the 2024 presidential election, leaving President Biden vulnerable to Republican claims of a two-tiered justice system.
- US Secretary of State Antony Blinken raised the prospect of New Zealand joining AUKUS after a meeting with New Zealand Prime Minister Chris Hipkins in Wellington today.
- Poll of the Day: Seven-in-ten voters favor continuing military aid to Ukraine.
Full article: US Daily Brief
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RUSSIA: Putin: Wagner Was Entirely Supported By The State
Jun-27 12:26
Comments from Russian President Vladimir Putin hitting wires, speaking at a meeting with security force, appearing to suggest that Wagner boss Yevgeny Prigozhin's march on Moscow was financially motivated.
- Putin's comments, per Reuters: "Wagner was entirely supported by the state... [The] state supported Wagner with 86 bln roubles May 2022 - May 2023."
- Putin: "Prigozhin earned billions of roubles... authorities will investigate how money paid to wagner and its boss was spent."
- Putin: "Russia's enemies would have taken advantage of situation if mutiny had succeeded... many of achievements of recent years would have been lost."
- Putin's comments appear to be an effort to discredit the notion that the Wagner rebellion was based upon objections to the principles of the war in Ukraine and reassert control of the public narrative.
- Earlier today, Putin appeared with Defence Minister Sergei Shoigu, a show a support for Russia's military establishment and primary target of Prigozhin's initiation occupation of Rostov-on-Don.
EUROZONE ISSUANCE: EU-bond issuance in H2-23
Jun-27 12:24
The EU has announced its funding plan for H2-23 and there is a larger fall in issuance than had been expected - from E80bln in H1-23 to E40bln in H2-23.
- There will be 4 syndications (down from 7 in H1):
- W/C 10 July
- W/C 11 September
- W/C 9 October
- W/C 13 November
- There will be 4-5 auctions (down from 8 in H1):
- 28 August
- 25 September
- 23 October
- 27 November
- 3 December (optional).
- There will also be two 3/6-month EU-bill auctions each month (with the exception of December where the 20 Dec EU-bill auction is optional).
EGB SYNDICATION: Italy CCTeu syndicated exchange
Jun-27 12:20
MEF has announced it will launch a new CCTeu maturing 15 October 2031 via syndicated exchange and buyback the following:
- 2.45% Oct-23 BTP (ISIN: IT0005344335)
- 0.65% Oct-23 BTP (ISIN: IT0005215246)
- 0.25% Nov-23 BTP Italia (ISIN: IT0005312142)
- Dec-23 CCTeu (ISIN: IT0005399230)
- Apr-25 CCTeu (ISIN: IT0005311508)
