MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI: SWISS KOF JUN ECONOMIC BAROMETER 102.7

MNI: SPAIN JUN FLASH HICP +0.3% M/M, +3.5% Y/Y

MNI: FRANCE JUN HICP +0.1% M/M, +2.5% Y/Y

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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Curve Bear Flattens On Monday

US TSYS

TYU3 deals at 111-29, -0-05, in line with late NY levels

  • Cash tsys finished 2-8bps cheaper across the major benchmarks, the curve bear flattened.
  • Sizeable flows weighed on tsys in the NY session, a block seller of 43k in TU was the highlight.
  • The latest 2-Year auction tailed, despite above average bid/cover ratio and indirect take up.
  • Tsys seesawed as the latest US PMIs showed continued Services price pressure along with softer expected business activity.
  • FOMC dated OIS price a 25bp hike into Wednesday's meeting, with a terminal rate of ~5.40% in November. There are ~55bps of cuts priced to March 2024.
  • There is a thin docket in Asia today, further out we have House Prices, Consumer Confidence and Richmond Fed Mfg Index. The latest 5-Year Supply is also due.
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