MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY10 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1196 FRI VS 7.1192

MNI China Daily Summary: Thursday, June 20

MNI: PBOC Net Injects CNY18 Bln Via OMO Thu; Rates Unchanged

Japan May Core CPI +2.5% Y/Y; Energy Price Surges

MNI BRIEF: Japan May Core CPI Rises 2.5% Vs. April +2.2%

MNI JAPAN MAY CORE CPI +2.5% Y/Y; APRIL +2.2%

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

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Quietly Back To Pre-Open Range

US TSY FUTURES

Futures have quietly drifted back to pre-NY open levels, weaker across the board to around middle of overnight range. Heavy overall volumes closer to average when taking surge in March/June rolls into account.

  • Active participants have migrated to sidelines ahead Fed Chair Powell's semi-annual mon-pol testimony to Senate Banking Comm at 1000ET Wed. Note, officials have pre-released the testimony around 0830ET for early perusal in the past have not as yet advised intention to do so. Incidentally, unless the Senate chooses to disclose the release time and the advisory comes from the Fed then the details are technically off the record and for planning only.
  • Meanwhile, strong buying earlier (fading last wk's sell-off as too far/too fast, and again after ECB LaGarde comment ECB is "CLOSELY MONITORING LONGER-TERM NOMINAL BOND YIELDS" Bbg) has run out of steam. Two-way flow on net with modest selling of intermediates to long end.
    Yield curves making new highs: 5s30s at 158.097 breaches 2015 triple top: 157.445.
  • Yield curves making new highs: 5s30s at 158.097 breaches 2015 triple top: 157.445.
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