MNI BRIEF: China Must Unblock Domestic Circulation - Wang

MNI China Daily Summary: Monday, July 8

MNI BRIEF: BOJ: Wage Hikes At Smaller Firms Spreading

MNI BRIEF:PBOC Starts Temporary OMO Tools To Adjust Liquidity

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

MNI: PBOC Sets Yuan Parity Lower At 7.1286 Mon; -0.29% Y/Y

Broad-Based Trade Activity Declines Notwithstanding Higher Surplus

MNI BRIEF: Japan June Sentiment Index, Outlook Index Both Rise

MNI: GERMANY MAY EXPORTS -3.6% M/M; IMPORTS -6.6% 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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EGB/Gilt: Edging Lower

BOND SUMMARY

European sovereign bonds traded weaker while equities have edged lower.

  • Gilts initially started the session on a strong footing before grinding lower through the morning. Cash yields are now broadly 1bp higher across the curve.
  • The bund curve has bear steepened with the 2s30s spread 2bp wider on the day.
  • The OAT curve is similarly 1bp steeper.
  • BTPs have marginally underperformed core EGBs with yields 1-3bp higher.
  • Supply this morning came from Germany (Bubills, EUR5.26bn allotted) and the Netherlands (DTCs, EUR3.71bn). France will offer EUR3.8-5.0bn of BTFs this afternoon.
  • There were no significant European data releases this morning. Focus shifts to US Empire Manufacturing later today.
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