TEST3, PLEASE IGNORE

TEST, PLEASE IGNORE

MNI China Daily Summary: Monday, June 17

MNI BRIEF: China To Retaliate Against EU Pork Products

MNI BRIEF: China Consumption Can Continue Acceleration - NBS

MNI: PBOC Conducts CNY182 Bln Via 1Y MLF Mon; Rates Unchanged

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

EZ/UK T-Bill Calendar: 6-Month ESM-Bill Auction on Tuesday

Empire Survey Shows Improving Manufacturing Optimism At End-Q2

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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Saunders: 2% Bank Rate or higher not "implausible or unlikely"

BOE
  • SONIA futures at their lows of the day after the Saunders speech - even though his last meeting is in 2.5 weeks and he's a recognized hawk. To be fair, the direction of travel was lower before he spoke, but we are ow seeing Reds/Greens down 6-7 ticks on the day. His key quote:
  • "Without wishing to endorse those views too strongly, I do not regard such an outcome (ie that Bank Rate will have to rise to 2% or higher during the next year to return inflation to target) as implausible or unlikely. But, rather than focus on a precise forecast for Bank Rate over the next year, the key point is that the tightening cycle may (in my view) still have some way to go."
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