MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.1305 THURS VS 7.1312

MNI NBP WATCH: Rates Held As 2024 Outlook Remains Hawkish

MNI BRIEF: ADP's Richardson Sees Pockets of Weakness in US Job Market

MNI: SWISS JUN CPI +0% M/M, +1.3% Y/Y

MNI: GERMANY MAY FACTORY ORDERS -1.6% M/M

MNI: SWISS JUN UNEMPLOYMENT -0.9% M/M, +22.8% Y/Y

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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Looking To Wider Cues

GILTS

Gilts have followed wider core global FI markets away from best levels of the day, although opening lows have not been breached, leaving the contract to mostly operate within the upper half of yesterday’s range, last little changed.

  • Cash gilts run 1-4bp richer on the day, with the belly now leading.
  • There hasn’t been much in the way of meaningful domestic headline flow since the worrying services PMI reading flagged earlier.
  • That leaves focus on cross -market moves and BoE-related discussions after yesterday’s decision to leave rates unchanged.
  • SONIA futures last show +2.0 to -0.5, with the whites and reds outperforming.
  • BoE-dated OIS is off dovish session extremes, with ~9bp of tightening showing for November, while terminal policy rate pricing is ~18bp above prevailing levels (~72% odds of 25bp hike are priced).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBank Of England (BOE) Market NewsBulletMarketsFixed Income Bullets
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBank Of England (BOE) Market NewsBulletMarketsFixed Income Bullets

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