MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

IFO disappoints

MNI: GERMANY JUL IFO BUSINESS CLIMATE INDEX 87

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

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  • 2y/10y bunds closed flat/+3bp – our DM team flagging that bunds remained near intraday lows even with the BoE decision leaning dovish and in light of a higher-than-expected U.S. initial jobless claims reading.
  • Main/XO closed flat as did €IG/€HY with all €IG sectors marginally in the green. No primary given European holiday.
  • SXXP also closed flat with Autos -1% and Basic Resources +1%. Notable €IG movers in the European session included Tauron Polska +5%, BBVA -7%.
  • Asian markets are broadly higher with the Hang Seng +2% on continued property shares strength while China mainland shares are flat on reports the US is set to impose tariffs on Chinese EVs and other strategic sectors. Stoxx 50 futures are +0.3%. Up today:

GMT/Local

Impact

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  • 2y/10y bunds closed flat/+3bp – our DM team flagging that bunds remained near intraday lows even with the BoE decision leaning dovish and in light of a higher-than-expected U.S. initial jobless claims reading.
  • Main/XO closed flat as did €IG/€HY with all €IG sectors marginally in the green. No primary given European holiday.
  • SXXP also closed flat with Autos -1% and Basic Resources +1%. Notable €IG movers in the European session included Tauron Polska +5%, BBVA -7%.
  • Asian markets are broadly higher with the Hang Seng +2% on continued property shares strength while China mainland shares are flat on reports the US is set to impose tariffs on Chinese EVs and other strategic sectors. Stoxx 50 futures are +0.3%. Up today:

GMT/Local

Impact

Keep reading...Show less