CHINA PBOC CONDUCTS CNY577.7 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1399; +1.94% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1399 THURS VS 7.1415

MNI China Daily Summary: Wednesday, August 14

MNI: PBOC Net Injects CNY369.2 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1415; +1.18% Y/Y

MNI:AUSTRALIA JUL UNEMPLOYMENT RATE +4.2%

Australia June Unemployment Rate 4.1%

MNI BRIEF: Japan Q2 GDP Grows 0.8% Q/Q, Stronger Than Expected

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

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Gilts have opened slightly lower as well,.....>

GILTS
GILTS: Gilts have opened slightly lower as well, but it is the front end that is
seeing the largest moves so far and in turn bear flattening the yield curve as
markets look ahead to key UK service PMI and re-opening of 5-yr Gilt for
Stg3bln. UK 10-yr Gilt yield is 1.9bp higher at 1.476%.
- Markets also digesting FOMC statement last night and news that Brexit cabinet
rejected PM May's preferred customs arrangement with the EU.
- UK release the services PMI at 0930BST with analysts expecting it to pick in
April to 53.8 after March's PMI of 51.7 was attributed to the poor weather
stopping consumers going out to shop and eat.
- Attention will then turn to Eurozone flash inflation data and then a raft of
US data in the afternoon.
- Short Sterling strip is bear steepening as blue contracts tick lower by 1 to 2
ticks, but volumes are low.
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