FED'S BARKIN: LOOKING FOR MORE EVIDENCE OF INFLATION'S DECLINE

BARKIN: FED SHOULD ACT DELIBERATELY, KEEP CLOSE EYE ON ECONOMY

MNI BRIEF: China Equip't Renewal Policy Includes Foreign Firms

MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

Broad-based Softening In June Underlying Inflation Metrics

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

EZ/UK T-Bill Calendar:1/3/6-Month UKTB Auction on Friday

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Slightly Mixed, China CPI/PPI Data Tomorrow

ASIA RATES
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

Asian Government Bonds are slightly mixed.

  • China government bonds are dealing slightly cheaper, with yields flat to 1bp higher.
  • The market still awaits May New Loans/Aggregate Credit figures, ahead of May CPI and PPI data.
  • South Korean sovereign bond curve is ~1bp richer after South Korea's first 10-days of June trade figures printed softer headline results. Exports fell -4.7% in y/y terms, while imports were down -7.4% y/y. The trade position was in deficit for the first 10-days of the month to the tune of $829mn, although this position tends to improve as the month progresses.
  • The weaker headline export result partly reflected day count differences with June last year. Daily average exports were up 11.2% y/y, although this was down from the first days of May figure (16.5%y/y).
  • There was also sharp deterioration on the primary income side. The net $5bn swing in investment income reflected a sharp pick up dividend outflows on foreign holdings of local equities.
  • Global bond markets now keenly await two key events on Wednesday: the latest US CPI data and the latest thoughts from Federal Reserve Chairman Jerome Powell following the FOMC Decision.
188 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Asian Government Bonds are slightly mixed.

  • China government bonds are dealing slightly cheaper, with yields flat to 1bp higher.
  • The market still awaits May New Loans/Aggregate Credit figures, ahead of May CPI and PPI data.
  • South Korean sovereign bond curve is ~1bp richer after South Korea's first 10-days of June trade figures printed softer headline results. Exports fell -4.7% in y/y terms, while imports were down -7.4% y/y. The trade position was in deficit for the first 10-days of the month to the tune of $829mn, although this position tends to improve as the month progresses.
  • The weaker headline export result partly reflected day count differences with June last year. Daily average exports were up 11.2% y/y, although this was down from the first days of May figure (16.5%y/y).
  • There was also sharp deterioration on the primary income side. The net $5bn swing in investment income reflected a sharp pick up dividend outflows on foreign holdings of local equities.
  • Global bond markets now keenly await two key events on Wednesday: the latest US CPI data and the latest thoughts from Federal Reserve Chairman Jerome Powell following the FOMC Decision.