MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

Broad-based Deceleration In June Core Metrics

MNI: ITALY JUN FLASH HICP +0.2% M/M, +0.9% % Y/Y; MAY +0.8% Y/Y

1 and 3-Year Consumer Inflation Expectations Edge Down Slightly

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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EUR Market Wrap

CREDIT UPDATE


  • Bunds have come off richer levels to sit +4bp at the short-end and flat at the long-end following this morning's higher-than-expected Spanish inflation data. The slightly firmer-than-expected run of Q4 flash GDP figures in Spain, Italy and the Eurozone will have also factored in.
  • Main/XO have moved broadly sideways since 9am and sit -0.5bp/-2bp. €IG/€HY at +0.5bp/-0.5bp as per FICM - €IG wider across all sectors aside from Comms with Health undperforming at +0.9bp on the Bayer litigation case as flagged yesterday. Intrum is weighing on the HY print with Sr Fins +6.6bp as per the monitor.
  • SXXP still +0.3% with grwoth stocks slightly outperforming and as Banks rally 0.9% after BBVA posted strong results and 2024 guidance and as Food & Bev stay at -0.9% on the Diageo results as flagged.
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