MNI BRIEF: China June CPI Hits Three Month Low

RBNZ MPC SAYS OCR "HAS SIGNIFICANTLY REDUCED CPI"

MNI: RBNZ LEAVES OCR AT 5.5%

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

Headline CPI Ticks Down To 0.2% Y/Y, PPI In Line

CHINA JUNE FOOD PRICES -2.1% Y/Y VS -2.0% Y/Y MAY

CHINA JUNE CPI +0.2% Y/Y VS MEDIAN +0.4%; MAY +0.3% Y/Y: NBS

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Afghan Pullout Deadline Set for Aug 31

US TSYS
Tsys trading weaker after the bell, aside from a large 10k FVU block sale at 123-31.5, rates were under pressure all session with a cautious risk-on tone as equities made new all time highs (ESU1 4491.75).
  • Little direction from mixed data: Richmond Fed's August reading of 9 was well below expectations (24) and a sharp drop from July's reading (27). New home sales were better than expected: +1% TO 0.708M SAAR.
  • Take away the heavy Sep/Dec roll volume and trade was rather muted -- typical for late summer trade. Tsy 10YY climbed to 1.2902% high in late trade, 30YY 1.9079% high. Underlying risk factors remain mixed: deadline for US/Allied pull-out from Afghanistan appears to be Aug 31 as hopes for an extension dashed by Taliban officials. Closer to home: HOUSE DEMOCRATS AGREE ON PATH TO ADVANCE BUDGET, INFRASTRUCTURE, Bbg
  • Meanwhile, the 2Y note sale saw second consecutive stop -- Tsy futures bounced off lows following strong $60B 2Y (91282CCU3) note draws 0.242% vs. 0.252% WI. Bid-to-cover was 2.65x well over 5 month average of 2.53x. Indirect take-up climbs to 60.54% from 52.76% in July (50.94% 5M avg); direct bidder take-up of 21.18% continues to outpace 5M avg of 18.77%; primary dealer take-up falls to 18.28% vs. 5-month average of 30.29%.
  • The 2-Yr yield is up 0bps at 0.2243%, 5-Yr is up 2.3bps at 0.7917%, 10-Yr is up 3.5bps at 1.2868%, and 30-Yr is up 3.4bps at 1.9046%.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.