MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% M/M

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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Cheaper, Little Changed After Data Drop

AUSSIE BONDS

ACGBs (YM -6.0 & XM -9.0) are unchanged after retail sales for August prints slightly below expectations (+0.2m/m versus +0.3% est.). Also, job vacancies fell 8.9% q/q in the three months to August.

  • Cash ACGBs are 6-8bps cheaper on the day, with the AU-US 10-year yield differential at -16bps.
  • Swap rates are 5-7bps higher on the day, with the 3s10s curve steeper.
  • The bills strip bear-steepens, with pricing -3 to -6.
  • RBA-dated OIS is little changed after the data drop, with pricing 3-5bps firmer on the day for '24 meetings.
  • (AFR) Treasurer Jim Chalmers has downplayed the risk of inflation breaking out from rising oil prices and says the Reserve Bank of Australia is likely to consider that price rises have been “moderating” this year. (See link)
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