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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1310 Tues; -0.50% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1310 TUES VS 7.1286

MNI BRIEF: China Must Unblock Domestic Circulation - Wang

MNI China Daily Summary: Monday, July 8

MNI: UK BRC JUN BY VALUE SHOP SALES LFL -0.5% YY, TOTAL -0.2% YY

BRC-KPMG Retail Sales Fell For The First Time (ex Easter Anomaly) Since Jun-22

Consumer Credit Growth Picks Up In May, But Overall Dynamics Subdued

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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Recent Cheapening As US Desks Come In Ahead Of Powell et al

US TSYS
  • Some recent cheapening pressure as the US comes in sees Cash Tsys back almost unchanged on the day with only the 2Y more modestly outperforming. More broadly, Treasuries heavily outperform core EU FI. Today’s is headlined by three important Fed speakers, even more so considering the dearth of any other releases, with any r* discussions closely watched for at the Laubach Research Conference.
  • 2YY -0.9bp at 4.242%, 5YY +0.0bp at 3.685%, 10YY -0.2bp at 3.644%, 30YY +0.2bp at 3.906%.
  • TYM3 trades just 1 tick higher at 113-30+, keeping to a relatively narrow range off a low of 113-28+. Cumulative volumes are higher than recent averages at 280k. It came close to initial resistance at yesterday’s low of 113-27+, in turn closely followed by 113-26 (May 22 low) and 113-23 (50% retracement of Mar 2-24 rally).
  • Fedspeak: NY Fed’s Williams (0845ET, text + Q&A), Gov. Bowman (0900ET, text + Q&A), Chair Powell (1100ET, panel/Q&A)
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