BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

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AU Employment Beats, AUD and Yields  Higher

DATA REACT
  • The AUD is up 0.42% for the day with the AUD/USD making lows of 0.6590 just prior to Employment before making new cycle highs of 0.6615, the pair trades just off those levels now at 0.6609, yield curves are wider with better selling in the 2-5yr part of the curve, 2Y +2.1bps to 3.816% the 10Y +1.7bp to 4.066%
  • In rates ACGB futures have pushed lower with the 3Y -7bps while the 10Y -6bps, RBA-date OIS pricing is 8bps firmer for meetings beyond December, with a cumulative 39bps of easing is priced by year-end versus 42bps prior to the release.
  • Employment Change was 116.5k vs 40k expected while Jan employment change was revised higher to 15.3km from 0.5k, with the unemployment rate dropping to 3.7% from 4.0% expected. New jobs were made up of 78.2k full-time and 38.3k part time.
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