MNI: PBOC Conducts CNY100 Bln Via 1Y MLF; Rates Unchanged

CHINA PBOC CONDUCTS CNY129 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1313 Mon; -1.35% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1313 MON VS 7.1315

MNI BRIEF: China June M2 SlowsTo Record Low For Third Month

MNI BRIEF: China Steel Export Growth Slows In June

MNI: BAKER HUGHES US RIG COUNT 584; OIL RIGS 478; GAS RIGS 100

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.10B BSL

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Post-LIBOR Settle Update

US EURODLR FUTURES

Lead quarterly EDH2 holds mildly weaker, -0.0075 at 99.30 after latest 3M LIBOR set' climbs +0.01943 to 0.48814%, still -0.01829 for the wk.

  • Balance of Whites (EDM2-EDZ2) -0.005, lagging Reds (EDH3-EDZ3, +0.010-0.030) through Golds (EDH6-EDZ6, +0.010-0.015).
  • Markets gradually looking past/normalizing after StL Fed Bullard doubled down/reprised his hawkish policy stance Monday morning. Mar still pricing in a chance of 50bp liftoff next month, but well off 100% early Monday.
  • Implied vol cooling, inversion inching back out to longer expirys, Red/Gold pack spds still inverted but +6.75 on day.
  • Option trade more mixed with call volume rising. Salient Tuesday trade:
    • over +38,000 short Sep 99.00 calls, 2.0 ref: 97.615-.62
    • Block, -20,000 Sep 98.50/98.75 call spds, 0.5 over Sep 97.37 puts vs. 98.33/0.30%
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