MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

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

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Bonds and Rates remain under pressure

BUNDS
  • Bund remains under pressure, after falling 207 ticks yesterday post the UK CPI beat, the contract tested next support at 153.78, printed 153.77 low.
  • The contract also saw a 18 ticks drop pre cash open, following the ECB Schnabel's interview: "A rate hike in September is seen a done deal with policymakers split between 25 and 50 basis points. Schnabel's comments suggest she is likely to advocate a bigger increase.
  • Euribor strip is also under early pressure, ERZ2 sees support at the August low 98.69, so far printed 98.70 low.
  • Today sees, EU final CPI, and out of the US, Existing home sales and Leading index.
  • SUPPLY: Some focus on the French supply, with 2025, 2028 and linkers 2027 and 2032s.
  • US. sell $8bn 30y TIPS Reopening.
  • SPEAKERS Fed George and Kashkari
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