MNI China Daily Summary: Wednesday, Sept 11

MNI BRIEF: Cautious Policy Adjustments Eyed - BOJ's Nakagawa

MNI: PBOC Net Injects CNY209.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1182 Weds; +2.35% Y/Y

CHINA PBOC CONDUCTS CNY210 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1182 WEDS VS 7.1136

MNI: US AUG CPI UNROUNDED M/M 0.187%, CORE 0.281%

MNI: US AUG CPI 0.2%, CORE 0.3%; CPI Y/Y 2.5%, CORE Y/Y 3.2%

US MBA: REFIS +1% SA; PURCH INDEX +2% SA THRU SEP 6 WK

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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Loomis AB (LOOMIS AB; NR/BBB) FINAL

CONSUMER CYCLICALS
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exp. €300m 5Y SLB FINAL MS+125 vs. FV +120 (5bp NIC)

  • books>€1.3b, -35 in from IPT
  • may show some value for those excluded from Tobacco

Securitas has held well in secondary. We hear Prosegur's 29s actually do trade - which only adds to our confusion. We see FV on that line +20-25bps north of current mids. Its unch today despite rotation into above screening significant value. On Loomis standalone - as we said at guidance it may screen value but not a firm view of ours - at least yet - one we will be watching closely in secondary.
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exp. €300m 5Y SLB FINAL MS+125 vs. FV +120 (5bp NIC)

  • books>€1.3b, -35 in from IPT
  • may show some value for those excluded from Tobacco

Securitas has held well in secondary. We hear Prosegur's 29s actually do trade - which only adds to our confusion. We see FV on that line +20-25bps north of current mids. Its unch today despite rotation into above screening significant value. On Loomis standalone - as we said at guidance it may screen value but not a firm view of ours - at least yet - one we will be watching closely in secondary.