MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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Futures Rebound But Recent Ranges Hold

JGBS

At the lunchtime break, JGB futures sit at 146.25, +.06 and not too far off session highs. Earlier lows were at 146.06, while highs for this week rest at 146.35/36.

  • Positive spillover has been evident from US TSYs, with TYH4 which have ticked higher as the Thursday Asia Pac session unfolds. There doesn't appear any major macro catalyst for this move, with most focus on the surge in US equity futures post the Nvidia result earlier today.
  • More broadly, this keeps JGB futures within recent ranges. In JGB cash yields, the 10yr benchmark sits back at 0.725%, while the 10yr swap rate is back under 0.89%.
  • BoJ Ueda's appearance in parliament is scheduled for now.
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