MNI: PBOC Net Drains CNY349.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1124 Fri; +2.56% Y/Y

CHINA PBOC CONDUCTS CNY30.1 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1124 FRI VS 7.1299

MNI BRIEF: Inflation's Down, Not There Yet - Fed's Barkin

MNI BRIEF: Jobless Claims Stays Low, 2Q GDP Revised Higher

Australia Jun Retail Sales +0.5% M/M

Japan Jul Retail Sales +2.6% Y/Y

Japan Jul Ind. Output +2.8% M/M; First Fall In 2 Mths

UK: Week Ahead

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Post-LIBOR Settle Update

US EURODLR FUTURES

Lead quarterly EDH2 holding weaker level, near overnight low after 3M LIBOR set' inched +0.00043 higher to 0.26757% (+0.00986/wk), highest since Aug 2020. Levels

  • Whites (EDH2-EDZ2) through Golds (EDH6-EDZ6) trading weaker, underscoring mkt expectations of tighter forward policy from the Fed: four .25bp quarterly hikes starting this March, another two to three in 2023.
  • Active debate over timing of balance sheet run-off, quantitative tightening sometime after conclusion of quantitative easing in March -- see MNI STATE OF PLAY: FOMC To Signal March Hikes Start, Debate QT on MNI Policy main wire at 0615ET.
  • Green Dec '24 (98.020) slightly off inversion vs. Blue pack (EDH5-EDZ5) as uncertainty over policy path eases slightly
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