MNI China Daily Summary: Tuesday, July 30

MNI BRIEF: China To Step Up Macroeconomic Policies - Politburo

MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI: EUROZONE Q2 PRELIM FLASH GDP +0.6% Y/Y

MNI: EUROZONE Q2 FLASH GDP +0.3% Q/Q

MNI: NORTH RHINE WESTPHALIA CPI +0.3% M/M, +2.3% Y/Y

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

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Extend Gains Following Sharp Sell-Off

US TSYS

TYH4 is trading at 110-31+, + 06+ from NY closing levels.

  • Futures have pushed higher to 110-31+ in Asia, although still trade below pre ISM data levels of 111-04+ from Monday. Outright buyers have been seen, fueling the push higher, outside of any notable news
  • Cash yields have been uneventful today, opening 1-2bps lower, and grinding another bp lower going into Asia lunch. The 2Y yield is 2.9bps lower, while the 10Y is 2.5bps lower, the 2y10y is currently -30.80, off the lows post Jobs data Friday of -40.198.
  • Tuesday focus: no data, but several Fed speakers are scheduled: Cleveland Fed Mester economic outlook at 1200ET, MN Fed Kashkari moderated Q&A, livestreamed at 1300ET, Boston Fed Collins open remarks labor conference, livestreamed, no Q&A at 1400ET, Philly Fed Harker on Fed role in the economy, text, Q&A at 1900ET.
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