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

MNI: PBOC Sets Yuan Parity Lower At 7.1122 Thurs; -1.79% Y/Y

MNI BRIEF: Aussie Unemployment Prints Tighter At 4% In May

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1122 THURS VS 7.1133

MNI BRIEF: China To Aid Outdated New-Energy Capacity Clear-out

Australia May Unemployment Rate 4.0%

MNI:AUSTRALIA MAY UNEMPLOYMENT RATE +4%

Local Investors Dump Offshore Bonds, Foreign Inflows Into Local Equities Halted

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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Resumption Of Recent Sell-Off

US TSYS
  • Cash Tsys have resumed a sell-off after yesterday’s rally, with the move gathering pace of late on a softer patch in equities and the dollar as Tsys modestly underperform core EU sovereigns despite high price prints in European PMIs.
  • Yields remain off highs from earlier in the week for now, with 2YY +5.9bps at 2.155%, 5YY +8.4bps at 2.402%, 10YY +8.7bps at 2.379% and 30YY +7.8bps at 2.563%.
  • TYM2 is 16 ticks lower on the day at 122-20+ on average volumes but remains within yesterday’s wide range. Support is seen at yesterday’s low of 122-12 whilst resistance is eyed at 123-25+ (Mar 16 low and recent breakout level).
  • Fedspeak: Kashkari, Waller, Evans, Bostic and Daly overnight but only Evans (2023 voter) at 0950ET hasn’t already spoken since the FOMC decision.
  • Data: Today’s highlights are likely durable goods for Feb and the preliminary PMI for March.
  • Bill issuance: US Tsy $35B 4W, $30B 8W bill auctions (1130ET)
  • Bond issuance: US Tsy $14B 10Y TIPS re-open (1300ET)

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