MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI BRIEF: Japan July Tokyo Core CPI Rises 2.2% Vs. June's 2.1%

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

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

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May Fed Hike Pricing Bounces Back, With Next Month's PCE More Important

STIR
Implied May Fed hike pricing fell from 16bp to 13.5bp after that soft Feb PCE report, but it's since bounced back to 15bp.
  • The soft services ex-housing number is key to any Fed pause narrative but as we noted earlier, the April 28 PCE release will carry far more weight Let alone the rest of the year, for which 55bp of cuts from peak are priced (basically unchanged from pre-data).
  • MNI Chicago PMI coming up in a half hour.
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