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

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.1305 THURS VS 7.1312

MNI NBP WATCH: Rates Held As 2024 Outlook Remains Hawkish

MNI BRIEF: ADP's Richardson Sees Pockets of Weakness in US Job Market

MNI: SWISS JUN CPI +0% M/M, +1.3% Y/Y

MNI: GERMANY MAY FACTORY ORDERS -1.6% M/M

MNI: SWISS JUN UNEMPLOYMENT -0.9% M/M, +22.8% 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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EGB/Gilt

BOND SUMMARY

European sovereign bonds have trade broadly firmer this morning.

  • Gilts have marginally outperformed core EGBs. Cash yields are 1-2bp lower on the day and the curve has slightly bull flattened.
  • Bunds have similarly inched higher with yields within 1bp of yesterday's closing levels.
  • OATs trade in line with bunds. Last yields: 2-year -0.6909%, 5-year -0.6668%, 10-year -0.3431%, 30-year 0.3487%.
  • BTPs trade mixed and close to unch on the day.
  • Supply this morning came from Italy (BOTs, EUR6.0bn).
  • There is doubt over the Oxford-AstraZenecea vaccine data after Oxford University indicated that there was an error in the published results.
  • The UK government has launched a new locational tiering tracker, with 98% of England reportedly face the two most stringent tiering restrictions.
  • The European data calendar was light again this morning.
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