MNI China Daily Summary: Friday, June 7

MNI BRIEF: China May Forex Reserves Rise On Weakened Dollar

MNI BRIEF: BOJ Consumption Activity Index Rebounds In April

MNI BRIEF: China Service Trade Grows Rapidly, Deficit Expands

MNI: PBOC Net Drains CNY98 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

Q1 GDP Deflator At 3.6%; 0.5pp Below Eurosystem Projections

Compensation Per Employee Accelerates Above ECB Forecasts In Q1

MNI: EUROZONE Q1 GDP +0.3% Q/Q, +0.4% Y/Y

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Curve Steeper, ACGB Syndi Seemingly Attractive Vs. "Fair Value"

AUSSIE BONDS

Tsy market dynamics in NY hours and the ongoing ACGB '51 syndication
(with orderbooks >A$28bn at present) leave the curve steeper vs.
settlement in early Sydney hours. YM -1.0, XM -3.0.

  • A market contact notes that "flows have been active, with good
    receiving seen in 5y5y – both outright and on a spread to USD as well
    as NZD. Additionally, we have seen receivers of AUD curve, coupled
    with ongoing receive flow in the belly, around the high carry forward
    points."
  • Bills sit unchanged to -2 through the reds.
  • The aforementioned syndication will garner the most interest today,
    with the line seemingly competitively priced vs. most estimates of
    fair value. Elsewhere, weekly payrolls data will be eyed.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income Bullets

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