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MNI BRIEF: Aussie Unemployment Prints Tighter At 4% In May

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

CHINA SETS YUAN CENTRAL PARITY AT 7.1122 THURS VS 7.1133

MNI BRIEF: China To Aid Outdated New-Energy Capacity Clear-out

Australia May Unemployment Rate 4.0%

MNI:AUSTRALIA MAY UNEMPLOYMENT RATE +4%

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MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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/MNI Europe Pi (Positioning Indicator):.......>

BONDS
BONDS: /MNI Europe Pi (Positioning Indicator): Structural Shorts Re-Emerge:
- There has been a shift to the short side in EGB futures positioning since our
last update on May 26 (as Jun-Sep contract rolls were underway). Indeed, in our
previous two updates, no contracts were in short territory, whereas now there
are three (including two 'very short').
- GERMANY: Schatz positioning remains long, though off May's year-long highs.
The other 3 German contracts were previously long, but have shifted
significantly in the past month: Bobl is flat, and Bund and Buxl are very short.
Last week saw shorts set on Schatz and Bobl, with longs set on Bund and Buxl.
- OAT: Positioning continues to swing, going from long in April to flat in May,
and now back to long (in fact, longest in a year). Further longs were set last
week.
- GILT: Positioning has moved back to short for the first time since late April,
with further shorts set last week.
- BTP: Positioning has been moving steadily longer since late April, moving into
outright long last week (during which time further longs were set).
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