MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

RPT-MNI INTERVIEW: ISM Choppiness Not A Clear Signal For Worry

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

DMP survey increases probability of August cut

MNI: UK JUNE CONSTRUCTION PMI 52.2 (FCST: 54.0); MAY 54.7

MNI: EUROZONE JUNE CONSTRUCTION PMI 41.8; MAY 42.9

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EGBS-GILTS CASH CLOSE: Soft US Inflation Report Cements Rally

BONDS

A weaker-than-expected US core inflation print Tuesday afternoon cemented a reversal lower in yields from multi-year highs.

  • The downside surprise helped ECB and BOE hike pricing fade slightly, and this led the German and UK curves bull flatten.
  • Earlier, yields had peaked in late morning (10Y Bunds and Gilts hitting 7-yr highs).
  • Periphery spreads tightened, with Italy leading the way as the the CPI release forced reconsideration of central bank hawkishness ahead of Thursday's ECB decision.

Closing Yields / 10-Yr Periphery EGB Spreads To Germany

  • Germany: The 2-Yr yield is down 5.8bps at 0.075%, 5-Yr is down 5.3bps at 0.573%, 10-Yr is down 2.6bps at 0.79%, and 30-Yr is down 0.1bps at 0.927%.
  • UK: The 2-Yr yield is down 5bps at 1.508%, 5-Yr is down 4.9bps at 1.564%, 10-Yr is down 4.4bps at 1.803%, and 30-Yr is down 3.4bps at 1.95%.
  • Italian BTP spread down 3bps at 161.9bps / Spanish down 1.5bps at 92.2bps
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.