Manufacturing purchasing managers’ indices (PMI) improved across most EM countries. Fears over a conflict in the Taiwan Strait increased, but we think a direct military conflict is unlikely in the short to medium term. China’s Politburo set guidelines for fiscal and monetary policies as well as regulation. The central banks of Brazil and Turkey are due to hold important policy committee meetings this week. The parliaments of Chile and Peru authorised further redemptions from their pension plans. India’s ruling BJP party marginally increased its position in the Upper House of Parliament. El Salvador’s newly elected National Assembly purged the top members of the judiciary system appointed by the previous government.