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US TSY FUTURES

June/September Roll Update

EMERGING MARKETS

ETF Weekly Inflow Streak Reaches $42.1Billion

US TSY FUTURES

BLOCK, 5s/Ultra-Bond

FED

NY Fed Operational Purchase

CHINA YUAN
CHINA YUAN: USD/CNH deals 300 or so pips lower on the day at CNH6.8385 at
writing, back from session lows of CNH6.8168, with the pair having a look back
above the 200-DMA which is located at CNH6.8370.
- Initial CNH strength came on the back of the developments at the Trump-Xi
meeting held over the weekend, although we do not see anything substantive in
the details, and are of the opinion that the temporary truce can be seen as a
"can kick" (see POV: PROGRESS, BUT NOTHING TO WRITE HOME ABOUT at 22:51 06/30
BST).
- USD/CNH 1- & 3- month risk reversals seemingly indicate a similar thought
process, they have eased below their respective June lows, but still sit well
above levels witnessed in early May.
- A less than inspiring round of official Chinese PMI readings were released
over the weekend, with the Caixin manufacturing PMI due in circa 15 minutes
time.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com