MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

MNI: US MBA: MARKET COMPOSITE -0.2% SA THRU JUL 05 WK

US MBA: REFIS -2% SA; PURCH INDEX +1% SA THRU JULY 5 WK

Indeed Wages Tick Higher, But Future Revisions Are Likely

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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3/5-year Bonos & 10-year Obli

SPAIN AUCTION PREVIEW
MNI (London)
  • On offer today: E4.5-5.5bln of Spanish bonds
    • 0% May-25 Bono (ISIN: ES0000012K38)
    • 0% Jan-27 Bono (ISIN: ES0000012J15)
    • 2.55% Oct-32 Obli (ISIN: ES0000012K61)
  • Market colour: 3/5-year Bono yields rose around 115bp and 123bp from the beginning of May to the June 14 highs of 2.174% and 2.548% and have since decreased approx. 84-86bp.
  • 10-year Obli yields increased just over 94bp from the June 7 launch to the June 14 high of 3.216%. Yields have since fallen back 74bp at the time of writing.
  • 3/5-year Bono spreads to the Bobl are currently around 66.5bp and 84.1bp after widening sharply to highs of 77.9bp and 96.3bp on June 14. 2.55% Oct-32 Obli spreads to the 10-year Bund widened close to 23bp from the launch to a June 13 high of 145.1bp and were back around 131.9bp at the time of writing.
  • Timing: Results will be available shortly after the auction closes at 930 BST / 1030 CEST.
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