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

EZ/UK T-Bill Calendar: Belgium Nov 7, 2024 Short TC Due Tuesday

EZ/UK Bond Supply Calendar: Italy, UK Auction on Tuesday

BoE Data Watch

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

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Opens on the front foot

BUNDS

Bund opens on the front, but in a tight range (15 ticks)

  • Trump tweet have dominated market into the US close last night and overnight.
  • Initially ending talks with Democrats on a stimulus package until at least after the elections.
  • But took to twitter hours later to outline some separated measures he would be able to agree upon.
  • S&P futures dropped 2.7% on the initial tweet, but have recovered some 1.1% overnight.
  • German curve is bull flatter on the open, while Peripheral lag somewhat, keeping the Bund BTP spread 1.1bp wider on the open.
  • But a close eye on the record low yields in BTP (0.751%) as well as the 10yr spread and the 128.822bps level and tightest since February.
  • Today sees Spanish IP and Italian retail sales, which is unlikely to move the needle, with investors squarely focused on US Stimulus and on this side of the Atlantic, Brexit.
  • Some focus on supplies this morning, with Germany EU3bn 10yr (Equates 22.7k Bund)
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BulletMarketsFixed Income Bullets

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