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

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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Only Modest Paring Of Gains Post JOLTS & Regional Banks Pressures

US TSYS
  • Cash Tsys have seen a bid re-emerge in recent trading, more notably so for the long-end, but remain off highs seen after JOLTS data showed further labor market moderation. Coming on day one of the two day FOMC meeting, it has also seen WTI slide by than 5% and regional banks under pressure.
  • Debt limit back and forth continues, with Schumer most recently saying they can only debate spending after the clean debt bill is passed, with a full two-year debt-limit extension required. McConnell will be at the May 9 meeting that was earlier reported that Biden will have with McCarthy.
  • 2YY -16.7bp at 3.974%, 5YY -17.6bp at 3.459%, 10YY -14.0bp at 3.428% and 30YY -9.4bp at 3.714%.
  • TYM3 trades +1-03+ at 115-19+, just within earlier highs of 115-21 with next resistance seen at 115-30+ (Apr 26 high).
  • Aside of course from the FOMC decision, tomorrow includes ADP employment and ISM services.
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