MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

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

this is a test, please ignore

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

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

US Treasury Auction Calendar

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

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

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Reclaiming Earlier Losses

GILT SUMMARY

Having sold off sharply earlier in the session - a continuation of the inflation risk theme - gilts started to claw back losses from midday with yields edging back to yesterday's close.

  • Cash yields are now broadly 1-2bp higher on the day with the curve 1bp steeper. Last yields: 2-year 0.1015%, 5-year 0.4093%, 10-year 0.8996%, 30-year 1.4369%.
  • The Jun 21 gilt future trades at 127.10, 6 ticks below yesterday's close.
  • MNI has published Gilt issuance expectations for FQ2 (July to Sep), which is available on line.
  • Former UK PM David Cameron faced questions over his involved with Greensill at a parliamentary committee today at a time when the government has faced increased scrutiny over private sector lobbying.
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