MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

Asia Sovs Steady Ahead Of US CPI, PH Defense Spending To Increase

Japan May Machine Orders -3.2% M/M

MNI JAPAN MAY CORE MACHINE ORDERS -3.2% M/M; APRIL -2.9%

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


  • 2y/10y bunds are streaming 2bp/1.5bp wider – our DM team have noted little in the way of notable headline flow this morning, with Spanish PPI the only scheduled data release which was unsurprisingly not a market mover.
  • Main/XO are +0.5bp/3.5bp in early trading, having opened wider and moved broadly sideways. IFCM showing €IG/€HY at -0.7bp/-1.6bp with all €IG sectors in the green and Fins outperforming at -1bp and Tech/Energy underperforming at -0.4bp.
  • SXXP is +0.1% with Energy and Basic Resources selling off by 1.2% and 1.5% respectively while Financial Services and T&L rally by 1.1% and 0.8%. SPX futures are flat DoD.
  • Tele2 ({TEL2B SS Equity}) seems to be holding onto gains with analysts focusing on the removal of a potential Kinnevik sale as a strategic overhang. The two Irish banks AIB ({AIBG ID Equity}) and Bank of Ireland ({BIRG ID Equity}) are the worst performing SXXP members post-BOI’s results.
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