MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI BRIEF: NZ CPI Prints Lower Than Expected At 3.3% Y/y

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: PBOC Sets Yuan Parity Lower At 7.1318 Wed; -1.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1318 WED VS 7.1328

Asia Sovs Little Changed, BI Rate Decision Shortly

June Exports Miss, Electronic Exports Fall, Lagging Other Parts Of Asia

EZ/UK Bond Supply Calendar: Greece, UK, Germany Due Wednesday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Eurodollar/Tsy Option Roundup

US TSYS
FI option theme pivoted to better put buying Tuesday, bucking the recent trend in buying low delta calls as pace of rally in underlying starts to slow. Eurodollar and Tsy futures surged in early trade, scaled back support in the second half, some put buyers looking for the primary downtrend to resume.
  • That said, short end support remained robust as market tamps down on market pricing in chances of 75bp hike(s), back to pricing in nearly five 50bp hikes over the next six meetings.
  • Salient Eurodollar trade included a buyer of +15,000 Sep 96.25 puts, 6.5 screen/pit in the second half. Early limited downside put fly trade included a block buy of 5,000 Jun 98.00/98.12/98.25 put flys, 2.5, buy of 4,000 short May 96.25/96.37/96.50 put flys.
  • Treasury option highlights included buying 5,000 TYM 118.25/119/119.25/120.25 put condors and 5,000 USM 134/136/138/140 put condors 16.
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