MNI BRIEF: China Must Unblock Domestic Circulation - Wang

MNI China Daily Summary: Monday, July 8

MNI BRIEF: BOJ: Wage Hikes At Smaller Firms Spreading

MNI BRIEF:PBOC Starts Temporary OMO Tools To Adjust Liquidity

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1286 Mon; -0.29% Y/Y

Broad-Based Trade Activity Declines Notwithstanding Higher Surplus

MNI BRIEF: Japan June Sentiment Index, Outlook Index Both Rise

MNI: GERMANY MAY EXPORTS -3.6% M/M; IMPORTS -6.6% M/M

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Leaning better offered on the cash open

BUNDS

Bund is better offered on the margin, on the back of the big surge in European car sales, spiking to 256% in April, from the Pandemic low.

  • Very light volumes helps exacerbate the move lower, heading towards initial support at 168.59.
  • No tier 1 data for today, well, we do get EU CPI, but final reading.
  • Attention is turning to Friday for Global prelim PMIs.
  • Later sees US FOMC, but more likely to be a non event, given investor's focus turning to the next Fed, ECB and BoE meetings (16th, 10th, 24th June respectively).
  • SUPPLIES; UK £2.5bn 2035 (equates 30k Gilts) should keep the lid on the contract in early trading.
  • German EU4bn 2031 (Equates to 26.6k Bunds).
  • US $27bn 2yr
  • SYNDICATION: Finland EU3bn (no grow) 2031
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