BOC SAYS DOESN'T NEED TO ALTER PATH OF QT RIGHT NOW

this is a test, please ignore

MNI BRIEF: Text of Bank Of Canada Interest-Rate Decision

MNI China Daily Summary: Wednesday, July 24

MNI: PBOC Net Drains CNY203.9 Bln Via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Weds; -0.98% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: BTP Short Term and BTPeis on Thursday

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

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

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Pushing higher on the Cash open

BUNDS
  • Bund trades closer to its lower part of Yesterday's range following the US CPI, but off Yesterday's low, and gaining 8 ticks as the German Wholesale price data came below expectation, but more of an unwind from Yesterday's price action for the contract.
  • UK Data was mostly inline, although IP came below consensus, but no impact in the Pound.
  • Initial support noted at 132.76 remains, while resistance moves down to 133.69, Yesterday's high, but better is seen at 134.18.
  • There's no Tier 1 data left for the session, EU IP is unlikely to be a big market mover.
  • The ECB will hold a virtual non-monetary policy meeting and will announce the outcome of its Operational Framework Review.
  • SUPPLY: Early focus will again be on heavy Supply, Italy 2027 (equates to 34.8k short 2yr BTP), 2031s, and 2038 (equates to combined 61.7k BTP) will weigh, Portugal 8yr, 20yr, German €4.5bn Bund (equates to 37k Bund) could weigh, US sells $22bn of 30yr reopening.
  • SPEAKERS: ECB Cippolone, Stournaras.
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