MNI: Fed: Policy Well Positioned To Respond To Risks

CANADA JUNE JOBS -1.4K VS FORECAST +20K, PRIOR +26.7K

MNI China Daily Summary: Friday, July 5

MNI BRIEF: PBOC Plans To Borrow Hundred Bln Yuan CGB - Press

MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

MNI: BAKER HUGHES US RIG COUNT 585; OIL RIGS 479; GAS RIGS 101

EZ/UK T-Bill Calendar: Germany, France to Issue Bills Monday

EZ/UK Bond Supply Calendar: EU/UK Syndications Due Next Week

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

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

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MNI expectations for FQ1 issuance ahead of DMO consultation: Mediums

GILTS
  • There are 7 remaining medium auctions (1 already announced, 6 in FQ4 including the additional one announced today) with GBP24.6bln still due to be raised (GBP68.3bln target).
  • 4.625% Jan-34 gilt / 0.875% Jul-33 Green gilt: MNI expects the DMO to keep to one 10-year auction each month in FQ4 but there is a potential for 2-3 of auctions of the on-the-run 10-year 4.625% Jan-34 gilt which was launched in October in addition to one auction of the 0.875% Jul-33 Green Gilt in in the quarter (as well as on 6 December).
  • 3.75% Jan-38 gilt / 1.125% Jan-39 gilt: MNI expects at least one of the 3.75% Jan-38 gilt or the 1.125% Jan-39 gilt will be reopened in FQ4. If there are 5 medium-dated auctions in the quarter we would expect one auction of each of these gilts but if the number of medium-dated auctions is cut to 4 we would expect only one of these to be on offer (most likely the 3.75% Jan-38 gilt).
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