MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI China Daily Summary: Tuesday, July 2

Australia May Total Dwelling Approved +5.5%

Australia May Retail Trade +0.6%

MNI: AUSTRALIA MAY RETAIL SALES +0.6% 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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Little Changed In Asia

US TSYS

TYU3 deals at 109-15, +0-01, a touch off the top of the 0-06 range on volume of ~109k.

  • Cash tsys sit little changed across the major benchmarks.
  • Tsys firmed from session lows alongside regional equities and marginally pressure on the USD after the China Securities Regulatory Commission cut the levy charged on stock trades supported risk assets.
  • Earlier tsys had been marginally pressured in early dealing as local participants digested Fed Chair Powell's remarks at the Jackson Hole Symposium.
  • FOMC dated OIS remains stable, a terminal rate of ~5.50% is seen in November with ~60bps of cuts by July 2024.
  • There is a public holiday in the UK today and cash tsys will be closed during the European session.
  • Further out we have Dallas Fed Mfg Activity, as well as Fedspeak from Fed VC Barr. The latest 2- and 5-Year Supply is due.
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