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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Holding Richer With FOMC, ISM Services and ADP All Ahead

US TSYS
  • Cash Tsys are off session highs but maintain a new rally on the day with WTI also sliding further to sub-$70. The front end has still reversed a majority of yesterday’s modest paring of gains seen initially on softer JOLTS and US regional banks sliding, whilst the long end has pushed notably higher.
  • Attention will be firmly on the upcoming FOMC decision but after yesterday’s sensitivity to JOLTS downside, ADP and ISM services in particular will be watched closely before then.
  • In yield space, 2YY -0.8bp at 3.953%, 5YY -2.1bp at 3.428%, 10YY -2.1bp at 3.403% and 30YY -2.0bp at 3.692%.
  • TYM3 trades 7+ ticks higher at 115-25+ off a high of 115-30+ which matched resistance at the Apr 26 high. A further move higher could open 116-08 (Apr 12 high).
  • FOMC decision (1400ET), Chair Powell presser (1430ET) - see preview here
  • Data: ADP Apr (0815ET), S&P Global PMI Apr F (0945ET), ISM Services Apr (1000ET) plus weekly MBA data Apr 28 (0700ET)
  • Bill issuance: US Tsy $36B 17W bill auction (1130ET)
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