MNI BRIEF:BOJ Q1 Output Gap Hits 16th Negative Reading In Row

MNI: PBOC Sets Yuan Parity Higher At 7.1312 Weds; -0.34% Y/Y

MNI: PBOC Net Drains CNY248 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1312 WEDS VS 7.1291

MNI BRIEF: 'Noise' Driving Economic Deterioration- Campos Neto

MNI: EUROZONE JUNE FINAL SERVICES PMI 52.8 (FLASH: 52.6); MAY 53.2

MNI: GERMANY JUNE FINAL SERVICES PMI 53.1 (FLASH: 53.5); MAY 54.2

June Services PMI: Inflation Eases As Services Remain Expansionary

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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Muted Start, Curve Marginally Steeper On Friday

US TSYS

TYU3 deals at 114-14, +0-03, in line with levels seen late in Friday's NY session in a muted start to Monday's trade.

  • Cash tsys finished 3-6bps richer on Friday across the major benchmarks, the curve bull steepened.
  • Tsys firmed through Friday's European session erasing Asia's post-BOJ losses as risk sentiment improved.
  • Gains briefly extended as the Q2 Employment Cost Index was a touch softer than expected, however the move didn't follow through. Tsys observed narrow ranges for the remainder of Friday's trade.
  • FOMC dated OIS remain stable; a terminal rate of 5.40% is seen in November with ~50bps of cuts by June 2024.
  • The highlight of the week's docket is Tuesday's ISM Survey and Friday's July NFP Print.
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