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MNI ASIA MARKETS ANALYSIS: Tsys Near Post-NFP Lvls Ahead CPI

HIGHLIGHTS
  • Treasuries swung back toward the top end of a narrow range that has held since last Friday, little substantive reaction to the second policy testimony by Chairman Powell to Congress.
  • While Chairman Powell stuck to a predictably balanced stance in his testimony, market focus quickly turned to Thursday's CPI inflation data for June.
  • Focus remains on Thursday's June CPI inflation data. Consensus sees core CPI at 0.2% M/M in June after the softer than expected 0.16% M/M in May (vs cons 0.3), with a mild skew toward a “high” 0.2%.

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HIGHLIGHTS
  • Treasuries swung back toward the top end of a narrow range that has held since last Friday, little substantive reaction to the second policy testimony by Chairman Powell to Congress.
  • While Chairman Powell stuck to a predictably balanced stance in his testimony, market focus quickly turned to Thursday's CPI inflation data for June.
  • Focus remains on Thursday's June CPI inflation data. Consensus sees core CPI at 0.2% M/M in June after the softer than expected 0.16% M/M in May (vs cons 0.3), with a mild skew toward a “high” 0.2%.

Keep reading...Show less