MNI China Daily Summary: Monday, July 1

MNI BRIEF: PBOC To Borrow CGBs In Response To Market Situation

MNI BRIEF: Caixin June Manufacturing PMI Hits Three-year High

MNI: PBOC Net Drains CNY48 Bln Via OMO Mon; Rates Unchanged

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

MNI: US MAY CONSTRUCT SPENDING -0.1%

MNI: US ISM JUN MANUF PURCHASING MANAGERS INDEX 48.5

US JUNE MANUFACTURING PMI 51.6 (51.7 FLASH, 51.3 MAY)

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/Gilts -Equities drive cross assets

BONDS
  • A busy session for market, with all the action in Equitues, as Index collapse during most of the session, albeit off their worst levels at the time of typing.
  • As per FT: Vaccinated passengers will be able to travel to the US from the EU and UK from November onwards, the Biden administration will announce on Monday.
  • This latest story has stopped further downside in Indices.
  • Bund rallied to session highs on safer haven flow, and this could be seen in FX and Gold.
  • Peripheral are all wider, with Italy by 2.5bps.Gilts have mostly traded inline with Bund, albeit a touch tighter, 0.6bp.
  • Resistance in the Gilt/Bund spread is still at 113.6518, now at 112.00.
  • Looking ahead, ECB's Villeroy speaks in Paris.
  • Dec Bund futures (RX) up 67 ticks at 171.67 (L: 170.99 / H: 171.84)
  • Germany: The 2-Yr yield is down 2bps at -0.715%, 5-Yr is down 3.1bps at -0.638%, 10-Yr is down 4.2bps at -0.322%, and 30-Yr is down 4.3bps at 0.174%.
  • Dec Gilt futures (G) up 51 ticks at 127.45 (L: 127.03 / H: 127.56)
  • UK: The 2-Yr yield is down 3bps at 0.259%, 5-Yr is down 3.9bps at 0.467%, 10-Yr is down 4.6bps at 0.8%, and 30-Yr is down 4.2bps at 1.11%.
  • Dec BTP futures (IK) up 22 ticks at 153.88 (L: 153.39 / H: 154.08)
  • Dec OAT futures (OA) up 54 ticks at 167.99 (L: 167.42 / H: 168.12)
  • Italian BTP spread up 2.6bps at 103bps
HomepageBond Market NewsBulletMarketsFixed Income Bullets
HomepageBond Market NewsBulletMarketsFixed Income Bullets

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