China: China PMI Expands for First Time in Six Months
In June, China’s Manufacturing PMI increased from May’s 49.4 points to 50.8 points, according to preliminary data. The index now sits just above the 50 points threshold that signals an expansion; moreover, the reading represented the first increase in six months. (Source: Reuters)

Philippines: Philippines to Halve 2015 Global Bonds Amid Local-Debt Bias
In 2015, Philippines is planning to offer only half of the overseas bond it sold this year as it tries to increase domestic liquidity. 86% of the borrowing needs will be covered domestically, while the rest from international markets. The government recorded its biggest budget surplus in April, thus reducing funding pressure. (Source: Bloomberg)

Japan: Tax Cuts, Dance Hall Deregulation Aim to Set Japan Swinging
Japanese Prime Minister Shinzo Abe is set to unveil measures ranging from phased corporate tax cuts and public pension reforms to proposed dance hall deregulation, but the latest salvo from his three-pronged strategy for economic revival may disappoint some investors urging more radical steps. (Source: Reuters)

United Kingdom: Pound Strongest Since ’08 Luring Bulls Like No Other: Currencies
Britain’s pound is the most coveted currency among traders, who are betting that a rally that pushed it to the strongest level since 2008 is just getting started. (Source: Bloomberg)

India: India to Present Federal Budget on July 10: Government Sources
According to government sources, India’s new finance minister Arun Jaitley is expected to present the federal budget for the fiscal year 2014/2015 on 10 July. A provisional budget was presented on 17 February ahead of national elections.

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