CHINA PBOC CONDUCTS CNY3.5 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1027 MON VS 7.1124

MNI BRIEF: Japan Q2 Capex Up Q/Q; GDP Seen Revised Higher

MNI: PBOC Sets Yuan Parity Lower At 7.1027 Mon; +2.85% Y/Y

MNI: PBOC Net Drains CNY467.5 Bln via OMO Monday

CHINA SETS YUAN CENTRAL PARITY AT 7.1027 MON VS 7.1124

MNI: AUSTRALIA JUL BUILDING APPROVALS +10.4% M/M, +14.3% Y/Y

MNI: AUSTRALIA JUL DWELLING APPROVALS +10.4% M/M

MNI: BAKER HUGHES US RIG COUNT 583; OIL RIGS 483; GAS RIGS 95

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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Short Sterling strip extends.........>

SHORT-STERLING
SHORT-STERLING: Short Sterling strip extends gains, and generally at record
highs, as the street continues to price negative rates for the UK. Also plenty
of Rate cuts punts via options of late. Money markets as reported have moved
expectations to February 2021, and we start to see similar moves in OIS.
Meeting     OIS   bp Priced In  Cuts (10bp) 
18 Jun 20  0.061 - 0.7          -0.07 
06 Aug 20  0.043 - 2.5          -0.25 
17 Sep 20  0.029 - 3.9          -0.39 
05 Nov 20 -0.004 - 7.2          -0.72 
17 Dec 20 -0.017 - 8.5          -0.85 
04 Feb 21 -0.044 - 11.2         -1.12 
18 Mar 21 -0.046 - 11.4         -1.14 
06 May 21 -0.047 - 11.5         -1.15 
24 Jun 21 -0.047 - 11.5         -1.15 
05 Aug 21 -0.065 - 13.3         -1.33
MarketsFixed Income Bullets
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