MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI BRIEF: Japan July Tokyo Core CPI Rises 2.2% Vs. June's 2.1%

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

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

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Post-PPI Reaction

US TSYS
  • Treasury futures gap lower, extend lows after higher than expected PPI Final Demand MoM (0.3% vs. 0.1% est, -0.2% prior rev), YoY (0.9% vs. 0.6% est) and PPI Ex Food and Energy MoM (0.5% vs. 0.1% est), YoY (2.0% vs. 1.6% est).
  • Lower than expected Housing Starts (1.331M, 1.460M est, prior up-revised to 1.562M from 1.460M) and Building Permits (1.470M vs. 1.512M est).
  • Mar'24 10Y futures currently -18 at 109-19.5, nearing initial technical support at 109-17/16+ (50.0% of Oct 19 - Dec 27 climb / Low Feb 14). Resistance above at 110-17.5 (Feb 15 high).
  • Curves bear flatten: 2s10s -2.552 at -37.161, 10Y yield +.0826 at 4.3126%.
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