MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

Intermediate PPI Deflation Continues To Fade in June

MNI: GERMANY JUNE PPI  +0.2 % M/M (+0.1% FCAST, 0.0% PRIOR)

Disappointing data but no market reaction

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

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Light Bid, Dhingra Stays Dovish, Data Eyed Later This Week

GILTS
Bank Of England (BOE) Market NewsHomepageBond Market NewsBulletMarketsFixed Income Bullets

Weakness in European equities and a downtick in crude oil futures helps core global FI markets away from session lows, leaving gilts little changed to a touch firmer on the day.

  • Light front end outperformance comes after the previously covered comments from BoE dovish dissenter Dhingra, who unsurprisingly reiterated her push for lower interest rates.
  • Futures +9 at 98.25. Recent price action in the contract has been bullish. Initial resistance at the July 11 high (98.53), initial support at the July 11 low (97.63).
  • Cash gilt yields are 0.5-1.5bp lower across the curve.
  • SONIA futures move higher after the gilt open, last flat to +4.0.
  • GBP800mn of short-date gilt sales from the BoE’s APF are due this afternoon.
  • Looking further ahead, Wednesday’s CPI data and Thursday’s labour market report present the highlights of this week’s UK calendar.
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Weakness in European equities and a downtick in crude oil futures helps core global FI markets away from session lows, leaving gilts little changed to a touch firmer on the day.

  • Light front end outperformance comes after the previously covered comments from BoE dovish dissenter Dhingra, who unsurprisingly reiterated her push for lower interest rates.
  • Futures +9 at 98.25. Recent price action in the contract has been bullish. Initial resistance at the July 11 high (98.53), initial support at the July 11 low (97.63).
  • Cash gilt yields are 0.5-1.5bp lower across the curve.
  • SONIA futures move higher after the gilt open, last flat to +4.0.
  • GBP800mn of short-date gilt sales from the BoE’s APF are due this afternoon.
  • Looking further ahead, Wednesday’s CPI data and Thursday’s labour market report present the highlights of this week’s UK calendar.