MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

CHINA PBOC CONDUCTS CNY267.3 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1334 TUES VS 7.1335

MNI PBOC WATCH: PBOC Cuts 7-Day Rate As Reconfigures Framework

MNI China Daily Summary: Monday, July 22

EZ/UK T-Bill Calendar: 3/6-Month RATB Auction on Tuesday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

Philippine's FinSec Open To Rate Cuts, Front-End Yields Lower

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

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Prompt Brent Spread Setting Fresh Highs

OIL

Outright crude turns positive on the day recovering earlier losses as forward curve backwardation strengthens.

  • The Brent Sep-Oct spread continues to surge to new highs ahead of the Sep contract expiry at the end of this week. Other time spreads are also pushing back up after drifting lower for much of last week and in early trading today.
  • Brent SEP 22 up 1.1% at 104.29$/bbl
  • WTI SEP 22 up 0.9% at 95.56$/bbl
  • Brent SEP 22-OCT 22 up 0.34$/bbl at 5.16$/bbl
  • Brent DEC 22-DEC 23 down -0.01$/bbl at 9.22$/bbl
  • WTI SEP 22-OCT 22 up 0.07$/bbl at 2.34$/bbl
  • WTI DEC 22-DEC 23 up 0.04$/bbl at 9.63$/bbl
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