MNI BRIEF: China June CPI Hits Three Month Low

RBNZ MPC SAYS OCR "HAS SIGNIFICANTLY REDUCED CPI"

MNI: RBNZ LEAVES OCR AT 5.5%

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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Headline CPI Ticks Down To 0.2% Y/Y, PPI In Line

CHINA JUNE FOOD PRICES -2.1% Y/Y VS -2.0% Y/Y MAY

CHINA JUNE CPI +0.2% Y/Y VS MEDIAN +0.4%; MAY +0.3% Y/Y: NBS

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

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Primary Dealers Rescue 10-Year Sale, Bond Sentiment Negative

INDIA

Bonds are expected to come under pressure today, suffering from a hangover of a weak auction on Friday. Indian bonds fell on Friday after a weak auction, primary dealers were left to rescue the 6.10% 2031 sale taking INR 111bn of the INR 140bn on offer. The weakness at auction was surprising given that this is a new 10-year line. Other negative factors include crude prices staying high after rallying around 10% from lows hit at the start of last week.

  • Meanwhile there are reports that a minimum of three shadow lenders are seeking bids for local-currency bonds today with another in the pipeline tomorrow. This follows the best week for corporate issuance in over a month last week.
  • Elsewhere, US Secretary of State Blinken will arrive for a two-day visit of India on July 27 and will talk about containment of COVID-19 and recovery efforts as well as geopolitical issues.
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