MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

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

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EUR 5y5y Edges Higher Alongside Oil Prices, Still Below Pre-U.S. CPI Levels

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EUR 5y5y inflation-linked swaps tick higher alongside oil prices and with modest revisions higher seen in some of the final Spanish CPI readings, helping counter early Bund demand.

  • 5y5y is still a couple of bp below pre-U.S. CPI levels.
  • Bunds had already pulled back from yesterday’s high following soft demand at the latest 30-Year U.S. Tsy auction.
  • Macro news flow has been light, with much of the focus falling on the U.S. political situation, the impending U.S. PPI release and JPY FX matters.
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EUR 5y5y inflation-linked swaps tick higher alongside oil prices and with modest revisions higher seen in some of the final Spanish CPI readings, helping counter early Bund demand.

  • 5y5y is still a couple of bp below pre-U.S. CPI levels.
  • Bunds had already pulled back from yesterday’s high following soft demand at the latest 30-Year U.S. Tsy auction.
  • Macro news flow has been light, with much of the focus falling on the U.S. political situation, the impending U.S. PPI release and JPY FX matters.