MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

MNI: US MBA: MARKET COMPOSITE -0.2% SA THRU JUL 05 WK

US MBA: REFIS -2% SA; PURCH INDEX +1% SA THRU JULY 5 WK

Indeed Wages Tick Higher, But Future Revisions Are Likely

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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Data Provides Pre-Holiday Weekend Focus

US TSYS SUMMARY

Treasuries are pretty flat having bounced from overnight lows (again, in pretty modest ranges in Asia-Pac and European trade). Data is set to be the main focus of the shortened pre-holiday weekend session.

  • The 2-Yr yield is unchanged at 0.1446%, 5-Yr is up 0.3bps at 0.8187%, 10-Yr is up 0.3bps at 1.6096%, and 30-Yr is up 0.8bps at 2.2903%.
  • Sep 10-Yr futures (TY) down 2/32 at 131-23, briefly touching worst levels since Monday (L: 131-20 / H: 131-25).
  • Equities are on the front foot, with S&P eminis at the highest since May 10. Dollar's a little stronger too.
  • Another 0830ET data dump: personal income / spending are the focus, including PCE deflator; we also get advance goods trade balance and wholesale/retail inventories.
  • Then at 0945ET, May MNI Chicago PMI, followed by final UMIch Sentiment at 1000ET.
  • No scheduled Fed speakers, and no supply. NY Fed buys ~$12.425B of 0-2.25Y Tsys.
  • Reminder of early closure today ahead of the holiday weekend.
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