MNI China Daily Summary: Monday, July 1

MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

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

US JUNE MANUFACTURING PMI 51.6 (51.7 FLASH, 51.3 MAY)

Sequential Inflation Momentum Appeared To Slow In June

HICP Steady As Expected; CPI Ticks Lower As State Data Indicated

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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A more stable session for Gilts

GILT SUMMARY

A more subdued session for UK Gilts, with most of the action taking center stage in FX and the British pound.

  • Gilts have stayed underpinned throughout today's session, on the Risk being better offered, and still no step forward in Brexit trade talks.
  • Most of the action has been in rolling positions, from Sep to Dec, as investors start trading spreads.
  • Close to half of the volume traded in the front Sep has been rolls, with 62k trading outright today, and expect a higher pace next week.
  • Gilt futures are up 0.03 today at 137.01.
  • 10y yields down -0.2bp at 0.222%.
  • 2y yields unch at -0.40%.
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