MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

MNI: UK JUN M4 MONEY SUPPLY +0.5% M/M, +1% Y/Y

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NFP Miss: Stim Prospects Underpins Rates & Equities, USD Wanes

US TSYS SUMMARY
Large May employment gain of +559k jobs for May was still well below expectation of +680k (+800k whisper) spurred choppy two-way trade immediately after the release. Took a few minutes before a rally in rates gained momentum followed by equities soon after amid prospects of further stimulus.
  • Eminis climbed to within $10.0 of May 9 all-time high of 4236.25 to session high of 4229.25. After making strong gains in the prior session, USD slid on the headline jobs miss, the unexpected tick lower in the labor force participation adding some weight, which slipped to 61.6% vs. Exp 61.8%.
  • With decent action and one-way bearish option put buying early -- trade evaporated by noon. Rates drifting near session highs through the second half. TYU breached near-term resistance of 132-05.5 earlier to 132-07 high but have receded back to -05.5 to -06.
  • Fed enters blackout at midnight tonight through June 17.
  • The 2-Yr yield is down 0.6bps at 0.1487%, 5-Yr is down 5.6bps at 0.7836%, 10-Yr is down 6.5bps at 1.5602%, and 30-Yr is down 5.8bps at 2.2384%.
BulletMarketsFixed Income BulletsHomepage
BulletMarketsFixed Income BulletsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.