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MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

CHINA PBOC CONDUCTS CNY66.1 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 WEDS VS 7.1334

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

GERMANY AUG GFK CONS CLIMATE -18.4 (-21.0 F'CAST; -21.6 JULY)

INDON Curve Out-Performs As Investors See Rate Hikes Ending

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

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Market Roundup: Tsys Holding Lower Range, 5Y TIPS Sale, Fed Speak Ahead

US TSYS

Tsy futures see-sawing in weaker territory, lower half of session range following early morning buzz over UK PM Liz Truss resignation. Telegraph just now reporting MPS may vote over weekend for replacement finalists by Monday afternoon.

  • Decent morning volumes (TYZ2>1M) starting to thin out ahead midday (and London close). Yield curves bear steepening as yields continue to extend cycle highs (10YY 4.1778%), 2s10s -41.051 +1.870.
  • Tsys had briefly extended early session highs post-data (30YY 4.1144% low; 10YY 4.0963% low) weekly claims -12k to 214k, continuing claims +.021M to 1.385M, Pilly Fed Mfg index little weaker than expected at -8.7.
  • Coming up: US Tsy $21B 5Y TIPS auction (91282CFR7) at 1300ET.
  • Fed Speakers kick off with Philly Fed Harker's economic outlook (text, Q&A) at 1200ET; Fed Gov Jefferson moderated Q&A at 1330ET; Fed Gov Cook moderated Q&A at 1335ET; Fed Gov Bowman open remarks at community development event at 1400ET. Reminder, Fed enters media blackout midnight Friday.

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