MNI China Daily Summary: Friday, July 5

MNI BRIEF: PBOC Plans To Borrow Hundred Bln Yuan CGB - Press

MNI BRIEF: BOJ Consumption Activity Index Flat M/M In May

MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

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

MNI: EUROZONE MAY RETAIL SALES +0.1% M/M, +0.3% Y/Y

Retail Trade Broadly In-Line With Consensus

Weak manufacturing in France and Germany in May; energy production up

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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Vaccine Fallout Rumbles On

GILT SUMMARY

Gilts rallied through midday before trading weaker in the afternoon.

  • Gilts still trade above yesterday's close with yields 1-3bp lower across much of the curve. Last yields: 2-year 0.0538%, 5-year 0.3242%, 10-year 0.7380%, 30-year 1.2537%.
  • The Jun 21 gilt future trades at 128.58, 6 ticks off the day's low.
  • UK Health Secretary Matt Hancock has rejected calls to accelerate the government's roadmap for easing the country out of lockdown.
  • Reflecting the continued fallout over access to vaccines, former EC President Jean-Claude Juncker has argued against the EU's proposed vaccine export bans. Elsewhere, India has blocked the export of vaccines destined for multiple countries.
  • The DMO today placed GBP500mn of a sovereign sukuk maturing on 22 July 2026.
  • Looking ahead, tomorrow sees the release of retailsales data for February.
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