MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI BRIEF: NZ CPI Prints Lower Than Expected At 3.3% Y/y

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: PBOC Sets Yuan Parity Lower At 7.1318 Wed; -1.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1318 WED VS 7.1328

June Exports Miss, Electronic Exports Fall, Lagging Other Parts Of Asia

EZ/UK Bond Supply Calendar: Greece, UK, Germany Due Wednesday

EZ/UK T-Bill Calendar: Portugal, EU Auction on Wednesday

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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Bounce From Cheaps Fades

GILTS

The early bounce after the opening gap lower has faded, with weight in the wider core global FI space countering any Gilt-specific matters that facilitated the limited recovery. That leaves futures a little above worst levels of the day, -15 or so, while cash trade sees the major benchmarks running ~1bp cheaper in what has been a parallel shift across the curve.

  • SONIA futures are flat to -6.0, while BoE-dated OIS shows ~23bp of tightening for next month’s meeting, with terminal policy rate pricing edging closer to 5.85% after yesterday’s limited foray below 5.75%.
  • Participants await comments from BoE’s Pill, while cross-market impulses will be eyed ahead of and after the impending U.S. NFP release.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBank Of England (BOE) Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBank Of England (BOE) Market NewsBulletMarketsFixed Income Bullets

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