MNI China Daily Summary: Friday, September 6

MNI BRIEF: China To Address Consumption In Next Five-year Plan

MNI: PBOC Net Injects CNY111.4 Bln via OMO Friday

CHINA PBOC CONDUCTS CNY141.5 BLN VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.0925 Fri; +2.94% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.0925 FRI VS 7.0989

MNI: EUROZONE Q2 GDP +0.2% Q/Q, +0.6% Y/Y

MNI: FRANCE JUL INDUSTRIAL PRODUCTION -0.5% M/M, -2.2% Y/Y

MNI: GERMANY JUL EXPORTS +1.7% M/M; IMPORTS +5.4% M/M

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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Underpinned Into NFPs

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BulletMarketsFixed Income BulletsHomepageBank Of England (BOE) Market NewsBond Market News

Weaker equity markets fuel a rally in core global FI early Friday, with another round of pre-NFP positioning (BBG whisper number has moved lower) seemingly factoring in as well.

  • Futures +53 at 100.09. representing session highs.
  • Bulls now eye the Aug 14 high and bull trigger (100.30). A break there would further solidify their technical control.
  • Yields 3-4bp lower, another round of modest steepening seen on the curve.
  • SONIA futures just off highs, last flat to +5.0.
  • BoE-dated OIS still shows ~45bp of cuts through year end.
  • Expect the NFP release and subsequent Fedspeak to dominate today, with little of note on the UK calendar until Tuesday’s labour market report.
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Weaker equity markets fuel a rally in core global FI early Friday, with another round of pre-NFP positioning (BBG whisper number has moved lower) seemingly factoring in as well.

  • Futures +53 at 100.09. representing session highs.
  • Bulls now eye the Aug 14 high and bull trigger (100.30). A break there would further solidify their technical control.
  • Yields 3-4bp lower, another round of modest steepening seen on the curve.
  • SONIA futures just off highs, last flat to +5.0.
  • BoE-dated OIS still shows ~45bp of cuts through year end.
  • Expect the NFP release and subsequent Fedspeak to dominate today, with little of note on the UK calendar until Tuesday’s labour market report.