MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

Asia Sovs Steady Ahead Of US CPI, PH Defense Spending To Increase

Japan May Machine Orders -3.2% M/M

MNI JAPAN MAY CORE MACHINE ORDERS -3.2% M/M; APRIL -2.9%

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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Pre/Post-Powell See-Saw Action

US TSY FUTURES
Tsy futures had started to reverse modest gains prior to the Fed Chair's testimony, support evaporating ahead of the potential risk event coupled with bounce in equities (weaker levels helped kick off bounce in Tsys in the first place).
  • Apparent disappointment over no real surprises from the testimony (some had hoped yield curve control would have been mentioned) spurred sharp duration sell-off to new session lows (10YY 1.3875%H; 30YY 2.2144%H).
  • Chop continues with levels bouncing off lows after consumer confidence (91.3 vs 90.0 exp) -- not "clear anything to do with Powell" one desk offered.
  • Heavy volumes tied to massive rolling of March to June, latter takes lead quarterly Friday (TYH/TYM>1.3M). Yield curves making new highs: 5s30s: 161.894 (Aug 2014 levels).
BulletMarketsFixed Income Bullets
BulletMarketsFixed Income Bullets

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