MNI: PBOC Net Injects CNY88 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.0989 Mon; +3.38% Y/Y

CHINA AUG FOOD PRICES +2.8% Y/Y VS +0.0% Y/Y JUL

CHINA AUG CPI +0.6% Y/Y VS MEDIAN +0.7%; JUL +0.5% Y/Y: NBS

CHINA PBOC CONDUCTS CNY91.5 BLN VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.0989 MON VS 7.0925

MNI JAPAN Q2 GDP REV +0.7% Q/Q; PRELIM +0.8%; MEDIAN +0.8%

EZ/UK Bond Supply Calendar: EU Syndication; BoE APF Due Monday

CANADA AUG IVEY PURCHASING MANAGERS INDEX 48.2 SA

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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MNI US Employment Insight - Maintaining The Status Quo

EXECUTIVE SUMMARY

  • Payrolls growth was stronger than expected in May, especially after weak indicators in the run up to the release, but continues the trend of a moderating pace as the gap to pre-pandemic levels is almost closed.
  • Other details were modestly softer than expected - the unemployment rate was steady rather than dipping a tenth to the joint pre-pandemic low of 3.5% and average hourly earnings growth was unchanged at 0.3% M/M - but both have some caveats.
  • The report is seen as keeping the Fed on its current trajectory with attention quickly turning to the Friday's CPI inflation report for May.

PLEASE SEE THE FULL NOTE HERE:

USEmploymentReportJun2022.pdf

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