MNI China Daily Summary: Thursday, July 4

MNI BRIEF: China Has Four Months To Negotiate EU EV Agreement

RPT-MNI INTERVIEW: ISM Choppiness Not A Clear Signal For Worry

MNI: PBOC Net Drains CNY98 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1305 Thurs; -0.79% Y/Y

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

Factory Orders Decline as Non-EU Orders Dip

DMP survey increases probability of August cut

MNI: UK JUNE CONSTRUCTION PMI 52.2 (FCST: 54.0); MAY 54.7

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Traded within the morning ranges

EGB SUMMARY

Little change in EGB price action this afternoon, with most of the US on a long weekend.

  • Bund has respected this morning 24 ticks range (175.41-175.65), but traded small in the red, on the better buying interest seen in Equities.
  • Peripheral spreads, sees Greece leading 2.6bps tighter Spain and Portugal trade a touch wider
  • Focus remains firmly on Brexit, with face to face talks set for tomorrow.
  • Bund futures are down -0.07 today at 175.44
  • German 10y Bund yields up 0.6bp at -0.583% and Schatz yields up 0.6bp at -0.758%.
  • BTP futures are up 0.05 today at 151.45
  • Italy 10y yields down -0.2bp at 0.598% and 2y yields down -0.3bp at -0.418%.
  • OAT futures are down -0.12 today at 170.03
  • French 10y yields up 1.1bp at -0.341% and 2y yields up 0.1bp at -0.692%.
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