MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Indeed Wages Tick Higher, But Future Revisions Are Likely

ITALY MAY INDUSTRIAL PRODUCTION +0.5% M/M ; -3.3% WDA Y/Y

Contrasting Momentum Dynamics Underscore Need For July Data

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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Tsys Futures Continue Grind Higher

US TSYS

TYH4 is currently trading at 110-07, up + 06+ from New York closing levels.

Treasury futures are grinding higher as trading in Asia gets underway, there has been no catalyst for the trend higher as investors position for the up coming data releases later today.

  • Mar'24, 10Y futures have opened steadily in Asia, and have been trending upwards, breaking above the highs from Wednesday to trade at 110-07+, volumes still remain of the lower side.
  • Key levels to watch include initial support at 109-17 (50.0% of the Oct 19 - Dec 27 bull phase). A break below here could open up new yearly lows and a test of 109-05+ (lows of Nov 28). To the upside, initial resistance lies at 110-16 (the lows from Feb 9th), while a break above opens up a move to 111-06 (20-day EMA).
  • Cash yields move are 2-4bps lower in Asia, with the bear flattening theme from the US Session continuing. The 2Y yield is -1.7bp lower at 4.561%, the 10Y yield is -2.7bp lower at 4.228%, while the 2y10y is +0.8 at -33.094
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