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

MNI China Daily Summary: Friday, June 28

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

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

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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EUR Market Wrap

CREDIT UPDATE
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  • 2y/10y bunds are +3bp/+5bp after the Regional German CPI prints earlier where MNI’s calculations correctly indicated a broadly in line annual German print.
  • Main/XO are +1bp/+5bp while FICM shows €IG/€HY at roughly +0.4bp/+0.6bp though we see moves closer to -0.5bp/flat against govies. Primary slightly busier with Fins deals from BBVA, Raiffeisenbank, Jyske and Corps deals from Medtronic, LVMH, ISS Global.
  • IG movers include Thames (up to 20bps tighter), Balder (4-7bps tighter, issued in SEK yesterday), CPI Property (up to 9bps tighter), VF Corp (up to 5bps wider).
  • SXXP is -0.7% with Energy the only sector in the green. Notable €IG movers include International Distribution Services +4%, Norstar Holdings +4%, Mobico -6%, Worldline -4%.
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  • 2y/10y bunds are +3bp/+5bp after the Regional German CPI prints earlier where MNI’s calculations correctly indicated a broadly in line annual German print.
  • Main/XO are +1bp/+5bp while FICM shows €IG/€HY at roughly +0.4bp/+0.6bp though we see moves closer to -0.5bp/flat against govies. Primary slightly busier with Fins deals from BBVA, Raiffeisenbank, Jyske and Corps deals from Medtronic, LVMH, ISS Global.
  • IG movers include Thames (up to 20bps tighter), Balder (4-7bps tighter, issued in SEK yesterday), CPI Property (up to 9bps tighter), VF Corp (up to 5bps wider).
  • SXXP is -0.7% with Energy the only sector in the green. Notable €IG movers include International Distribution Services +4%, Norstar Holdings +4%, Mobico -6%, Worldline -4%.