MNI China Daily Summary: Thursday, June 27

MNI BRIEF: China EU In Close Communication - MOFCOM

MNI BRIEF: China To Hold Key Third Plenum On July 15-18

MNI Brief: China Third Plenum To Deepen Reforms

MNI: PBOC Net Injects CNY80 Bln Via OMO Thurs; Rates Unchanged

Inflation Accelerates in June

Services Expected Prices Remain At Elevated Levels

Thedeen Does Not Commit To Cut In August, Depends on Data

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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EGBs-GILTS: Up From Lows As Equities Take Breather

BOND SUMMARY

Bunds and Gilts shot higher in the last hour and are just off session highs, with equities coming off the boil. Periphery spreads fairly flat.

  • Main focus of the day is UK Chancellor Sunak's spending review, at approx 1230GMT.
  • Brexit talks still in the background, EU's Von der Leyen saying 'large differences' remain w UK.
  • Italy selling CTZ and Linkers today.
  • Very little on the local docket otherwise, with limited data. ECB's Holzmann speaks at 0900GMT, with the ECB Fin Stab review a half hour later, and Muller speaking at 1100GMT.

Latest levels:

  • Dec Bund futures (RX) down 3 ticks at 175.23 (L: 174.96 / H: 175.25)
  • Dec Gilt futures (G) up 4 ticks at 134.97 (L: 134.72 / H: 135.02)
  • Dec BTP futures (IK) down 3 ticks at 151.31 (L: 151.15 / H: 151.36)
  • Italy / German 10-Yr spread 0.3bps tighter at 117.2bps
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