MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI BRIEF: Japan July Tokyo Core CPI Rises 2.2% Vs. June's 2.1%

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

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

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Bear Flatter After Debt Deal House Passage, Heavy Data Docket Ahead

US TSYS
  • Cash Tsys sit cheaper across the board for a bear flattening, reversing the rally after June skip talks. The move cheaper has been buoyed by the passage of the debt ceiling bill through the House and stronger than expected China Caixin mfg PMI in a reversal of weakness seen in the official PMIs a day earlier.
  • It comes ahead of a heavy data docket with a distinct labor market focus before tomorrow’s NFP report, along with ISM manufacturing.
  • 2YY +4.0bp at 4.442%, 5YY +3.5bp at 3.789%, 10YY +2.7bp at 3.669%, 30YY +1.2bp at 3.873%.
  • TYU3 trades 9 ticks lower at 114-05+, off a session low of 114-01 that came close to support at 114-00 (May 31 low) after which lies 112-29+ (May 26 low). Volumes track above recent averages at 300k.
  • Data: Challenger Job Cuts May (0730ET), ADP employment (0815ET), Weekly jobless claims (0830ET), final ULC/productivity Q1 (0830ET), S&P Global Mfg PMI May final (0945ET), ISM Mfg May (1000ET), Construction spending Apr (1000ET)
  • Fedspeak: Harker (1300ET, incl text)
  • Bill issuance: US Tsy $35B each 4W and 8W bill auctions – 1130ET
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