MNI: PBOC Net Injects CNY674 Bln Via OMO Tue; Rates Unchanged

MNI China Press Digest July 16: LPR, Q2 Data, Property

MNI: PBOC Sets Yuan Parity Higher At 7.1328 Tue; -1.79% Y/Y

CHINA PBOC CONDUCTS CNY676 BILLION VIA 7-DAY REVERSE REPOS TUE

CHINA SETS YUAN CENTRAL PARITY AT 7.1328 TUE VS 7.1313

MNI BRIEF: Fed's Powell Says Neutral Rate Has Likely Risen

Multiple Factors Likely To Keep Chip Exports Supported In Coming Months

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

King's Speech Due Wednesday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

European handover

MARKET INSIGHT
  • The Asia-Pac session has seen a continuation of the core FI sell-off with TYH2 breaking through the August 2019 lows before slowing at the June 2019 lows. In cash terms this has seen the 10-year UST yield move to the highest level since 2019, up 3.1bp since the close to 1.947%.
  • Bund futures have also hit their lowest levels since May 2019 overnight as Asian investors reacted to the moves seen in the European timezone yesterday. Lagarde said little new yesterday which helped Schatz and EGB peripherals move a little off their lows following the weekend comments from Knot. Lagarde pointed to a need for a "gradual" shift in policy settings, while stressing that the Bank wants to maintain its optionality.
  • There was also continued focus through the Asian session regarding the situation in Ukraine after Putin spoke with Macron which suggested some progress had been made.
  • Finally, there has been focus on a WSJ interview with ex-RBA board member John Edwards which suggests that the RBA could hike the cash rate to 1.0% by the end of 2022, with liftoff set to be implemented by August. The market is more aggressive than this, with a sell-side consensus starting to form around an August increase. Note he is a hawk, but his comments were enough to see the Antipodes as the outperformers in G10 space overnight.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.