MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI BRIEF: Japan July Tokyo Core CPI Rises 2.2% Vs. June's 2.1%

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

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

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Goldman: Softer AHE On Negative Calendar Effects

US OUTLOOK/OPINION
  • Goldman see NFP growth at a seasonally adjusted 175k in May. Job growth tends to slow in May when the labor market is tight, and Big Data also indicate a deceleration. We also assume a roughly 25k drag from reduced credit availability, for example in the leisure and hospitality and other services industries.
  • One offsetting positive factor is that the May seasonal factors have evolved favorably in recent years.
  • Elsewhere they see the u/e rate unchanged at 3.4%, reflecting a modest rise in household employment and unchanged labor force participation (at 62.6%).
  • AHE seen at 0.25% M/M sa after +0.5%, lowering the year-on-year rate to 4.3%, reflecting negative calendar effects and waning upward wage pressures.
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