MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

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

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Local Rates Snapshot - Brazil DI Curve Bull Flattens

LATAM
  • Brazil DI curve has held on to the bull flattening move on Monday on a more optimistic fiscal outlook, confirmed by most recent headlines suggesting confirmation the budget impasse has been navigated.
  • In direct contrast, Chilean swap rates are marginally higher across the Camara curve as President Pinera announced a boost to pandemic spending, likely to cost in the region of $5.5 billion. These measures are likely to be a proposal used to counter a potential third pension withdrawal in the country, currently being voted on by a senate committee that goes against the views of the President.
  • Brazil DI Swaps:
    • 1-yr -1 bps at 4.64%
    • 2-yr -7 bps at 6.24%
    • 5-yr -18 bps at 8.14%
    • 10-yr -22 bps at 8.94%
  • Chile Camara Swaps:
    • 1-yr +3 bps at 0.69%
    • 2-yr +5 bps at 1.23%
    • 5-yr +5 bps at 2.37%
    • 10-yr +7 bps at 3.36%
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