MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: PBOC Sets Yuan Parity Lower At 7.1318 Wed; -1.32% Y/Y

Foreigners Buy CAD20.9B of Canada Securities In May Led By Debt

MNI: US JUN HOUSING STARTS 1.353M; PERMITS 1.446M

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +20.9B CAD IN MAY

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Little Net Movement On UK CPI

EGBS
HomepageBond Market NewsBulletMarketsFixed Income Bullets

Bund futures trade either side of pre-UK CPI data levels following the firmer-than-expected readings, but the data fails to have a lasting impact, leaving the contract +10 at 132.48.

  • The bullish technical cycle in the contract has extended.
  • Yesterday’s high was breached on the data, which puts initial resistance at 132.60, protecting the June 25 high (132.80).
  • Initial support is a little further away, at the 50-day EMA (131.62).
  • BTP and OATs futures also a touch firmer than settlement, but off best levels.
  • Final Eurozone CPI data and Fedspeak (Waller & Barkin) headline today’s macro calendar.
  • Elsewhere, German fiscal matters will be eyed, with the cabinet set to present the final 2025 draft budget. A EUR17bn budget gap needs to be filled.
  • German long end supply presents the highlight on the EGB auction front (EUR1bn of each of the 0% Aug-52 & the 2.50% Aug-54 Bund). Greece will come to market with 5s, while Italy will buyback up to EUR4bn of bonds.
162 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Bund futures trade either side of pre-UK CPI data levels following the firmer-than-expected readings, but the data fails to have a lasting impact, leaving the contract +10 at 132.48.

  • The bullish technical cycle in the contract has extended.
  • Yesterday’s high was breached on the data, which puts initial resistance at 132.60, protecting the June 25 high (132.80).
  • Initial support is a little further away, at the 50-day EMA (131.62).
  • BTP and OATs futures also a touch firmer than settlement, but off best levels.
  • Final Eurozone CPI data and Fedspeak (Waller & Barkin) headline today’s macro calendar.
  • Elsewhere, German fiscal matters will be eyed, with the cabinet set to present the final 2025 draft budget. A EUR17bn budget gap needs to be filled.
  • German long end supply presents the highlight on the EGB auction front (EUR1bn of each of the 0% Aug-52 & the 2.50% Aug-54 Bund). Greece will come to market with 5s, while Italy will buyback up to EUR4bn of bonds.