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MNI China Daily Summary: Wednesday, July 31

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US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 433.0M JUL 26 WK

MNI: US NAR JUN PENDING HOME SALES INDEX 74.3 V 70.9 IN MAY

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

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Post-Data React: Paring Gains

US TSY FUTURES
  • Still bid, Tsys paring support (TYH4 112-10, +13.5) after lower than expected Initial Jobless Claims (202k vs. 220k est, 221k prior revised from 220k), Continuing Claims (1.876M vs. 1.879M est, prior 1.856M revised from 1.861M).
  • Higher than expected Retail Sales Advance MoM (+0.3% vs. -0.1% est, prior -0.2% revised from -0.1%), Retail Sales Ex Auto MoM (0.2% vs. -0.1% est) Retail Sales Control Group (0.4% vs. 0.2% est).
  • Higher than expected Import Price Index MoM (-0.4% vs -0.8% est), YoY (-1.4% vs. -2.1% est); Export Price Index MoM (-0.9% vs. -1.0% est), YoY (in line w/ -5.2% est).
  • Tsy 10Y futures still well within technical levels: resistance at 112-28.5 (1.618 proj of the Oct 19 - Nov 3 - Nov 13 price swing). Initial support well below at 111-09+ (High Dec 7 and a recent breakout level).
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