MNI: PBOC Net Injects CNY57 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1315 Fri; -0.52% Y/Y

CHINA PBOC CONDUCTS CNY59 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1315 FRI VS 7.1285

MNI BRIEF: Fed's Bowman Wants A More Effective Discount Window

MNI BRIEF: Fed Risks Soft Landing If It Doesn’t Cut - Goolsbee

MNI BRIEF: Japan June Core CPI Rises 2.6% Vs. May +2.5%

CLARIFY: JAPAN JUNE SERVICES PRICES +1.7% Y/Y; MAY +1.6%

MNI JAPAN JUNE CORE CPI +2.6% Y/Y; MAY +2.5%

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

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GILT SUMMARY

Having traded weaker earlier in the morning, gilts then moved sideways through the remainder of the session.

  • Cash yields are 1-2bp higher on the day with the curve marginally steeper.
  • The Sep-21 gilt future trades at 127.16, 12 ticks above the day's low.
  • The BoE purchased GBP1.147bn of short-dated gilts with offer-to-cover of 3.98x.
  • Tomorrow the DMO will offer GBP3bn of the 0.375% Oct-26 Gilt and GBP1.25bn of the 1.625% Oct-71 Gilt at auction.
  • Comments from UK Brexit Minister Lord David Frost at the weekend indicating that the EU needed to compromised on Northern Ireland protocol have triggered a stern rebuke from Dublin and Paris.
  • Looking ahead, Friday sees the release of monthly GDP, index of services, industrial production, construction output and international trade data for April.
  • Uncertainty around the June 21 re-opening continues to linger in the background.
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