MNI BRIEF: Canadians Fuzzy On How BOC Hikes Slow CPI, Government's Role

CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: BCB Evaluating Real Depreciation Impacts - Galipolo

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

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

MNI: BAKER HUGHES US RIG COUNT 581; OIL RIGS 479; GAS RIGS 97

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: BoE APF on Monday

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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  • Bunds closed 2-5bps cheaper after the stronger-than-expected US consumer confidence reading pushed EGBs back to intraday lows.
  • Main/XO closed flat/-0.5bp while €IG/€HY closed -1bp/-2bp with all IG sectors in the green albeit with Utilities essentially flat (also flat WoW). 1-3yr spreads outperforming +10yr spreads by 2bps on the week.
  • SXXP ended -0.6% with T&L -3%, now the worst performing WoW sector at -4%. Notable €IG movers included Mobico +4% and Flutter -7%.
  • Asian equities are lower albeit with the CSI 300 flat with property stocks are performing well after Shenzhen, Guangzhou & Shenyang follow Shanghai in easing payment/mortgage requirements. Stoxx 50 futures -0.2%. Up today:

DateGMT/LocalImpactFlagCountryEvent
29/05/20240600/0800*DEGFK Consumer Climate
29/05/20240600/0800**SERetail Sales
29/05/20240600/1400**CNMNI China Liquidity Index (CLI)
29/05/20240645/0845**FRConsumer Sentiment
29/05/20240800/1000**EUM3
29/05/20240800/1000**ITISTAT Business Confidence
29/05/20240800/1000**ITISTAT Consumer Confidence
29/05/20240800/1000***DENorth Rhine Westphalia CPI
29/05/20240800/1000***DEBavaria CPI
29/05/20240900/1000*UKIndex Linked Gilt Outright Auction Result
29/05/20241100/0700**USMBA Weekly Applications Index
29/05/20241200/1400***DEHICP (p)
29/05/20241255/0855**USRedbook Retail Sales Index
29/05/20241400/1000**USRichmond Fed Survey
29/05/20241430/1030**USDallas Fed Services Survey
29/05/20241530/1130**USUS Treasury Auction Result for 2 Year Floating Rate Note
29/05/20241700/1300**USUS Treasury Auction Result for 7 Year Note
29/05/20241745/1345USNew York Fed's John Williams
29/05/20241800/1400USFed Beige Book
29/05/20242300/1900USAtlanta Fed's Raphael Bostic
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  • Bunds closed 2-5bps cheaper after the stronger-than-expected US consumer confidence reading pushed EGBs back to intraday lows.
  • Main/XO closed flat/-0.5bp while €IG/€HY closed -1bp/-2bp with all IG sectors in the green albeit with Utilities essentially flat (also flat WoW). 1-3yr spreads outperforming +10yr spreads by 2bps on the week.
  • SXXP ended -0.6% with T&L -3%, now the worst performing WoW sector at -4%. Notable €IG movers included Mobico +4% and Flutter -7%.
  • Asian equities are lower albeit with the CSI 300 flat with property stocks are performing well after Shenzhen, Guangzhou & Shenyang follow Shanghai in easing payment/mortgage requirements. Stoxx 50 futures -0.2%. Up today:

DateGMT/LocalImpactFlagCountryEvent
29/05/20240600/0800*DEGFK Consumer Climate
29/05/20240600/0800**SERetail Sales
29/05/20240600/1400**CNMNI China Liquidity Index (CLI)
29/05/20240645/0845**FRConsumer Sentiment
29/05/20240800/1000**EUM3
29/05/20240800/1000**ITISTAT Business Confidence
29/05/20240800/1000**ITISTAT Consumer Confidence
29/05/20240800/1000***DENorth Rhine Westphalia CPI
29/05/20240800/1000***DEBavaria CPI
29/05/20240900/1000*UKIndex Linked Gilt Outright Auction Result
29/05/20241100/0700**USMBA Weekly Applications Index
29/05/20241200/1400***DEHICP (p)
29/05/20241255/0855**USRedbook Retail Sales Index
29/05/20241400/1000**USRichmond Fed Survey
29/05/20241430/1030**USDallas Fed Services Survey
29/05/20241530/1130**USUS Treasury Auction Result for 2 Year Floating Rate Note
29/05/20241700/1300**USUS Treasury Auction Result for 7 Year Note
29/05/20241745/1345USNew York Fed's John Williams
29/05/20241800/1400USFed Beige Book
29/05/20242300/1900USAtlanta Fed's Raphael Bostic