MNI China Daily Summary: Thursday, August 1

MNI: BOE VOTES 5-4 FOR 25 BPS RATE CUT AT AUG MEETING

MNI BRIEF: BOJ To Focus On Continued Positive Wage Setting

MNI BRIEF: Japan Q2 GDP To Rise 0.5% Q/Q; 2.2% Annualised

MNI BRIEF: China Retains Ample Policy Space In H2 – NDRC

MNI BRIEF: Caixin July Manufacturing PMI Falls Below 50

MNI: US Q2 PREL UNIT LABOR COSTS +0.9% VS Q1 +3.8%; Y/Y +0.5%

MNI: US JOBLESS CLAIMS +14K TO 249K IN JUL 27 WK

VDMA Factory Orders Remain Weak in June

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

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Tsys continue to hold weaker levels....>

US TSY FLOWS
US TSY FLOWS: Tsys continue to hold weaker levels in the second half, near
session lows on decent overall volume (TYZ>1.05M). 
- Limited react, rates recovered some ground after Sept retail sales +0.1% vs
+0.6% expected by analysts, but receded by midmorning again as equities
rebounded/extended top end of range. 
- Deal-tied rate-locks weighed, Conagra expected to issue 8-tranche debt,
expectations for further issuance from financial stocks as tey exit earnings
blackout. 
- Carry-over two-way flow from fast$ accts in short end, prop selling
intermediates, modest two-way curve flow, light option volume.
- US Treasury's semi-annual FX report will be keenly anticipated by markets to
see if China is named a currency manipulator. However, Treasury staffers
reportedly advised soon after Mnuchin's comments that they did NOT find China to
be manipulating.
- Tsy cash/ylds: 2Y 99-25.5 (2.853%), 5Y 99-12 (3.010%), 10Y 97-20 (3.158%), 30Y
93-21.5 (3.336%).
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