MNI: PBOC Net Drains CNY215.65 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1318; +0.58% Y/Y

CHINA PBOC CONDUCTS CNY0.62 BILLION VIA 7-DAY REVERSE REPOS TUE

CHINA SETS YUAN CENTRAL PARITY AT 7.1318 TUE VS 7.1345

MNI China Daily Summary: Monday, Aug 5

MNI BRIEF: Taiwan FX Reserves Down In July

Room To Pause For The BI

MNI BRIEF: Japan June Real Wages Turn Positive; 1st in 27 Mths

Real Wages Surge Into Positive Territory, But Spending Still Negative

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

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Weaker, Debt Ceiling Bill Passes The Senate, Awaiting Non-Farm Payrolls

US TSYS

TYU3 is currently trading at 114-20+, -3 from NY closing levels after the US Senate passed the US debt-ceiling bill, by 63-36 votes. The legislation now goes to US President Biden to be signed into law, which the White House has stated will happen as soon as possible. Biden will address the American people tomorrow.

  • The Senate voted on 11 proposed amendments, but none were adopted. Senate Leader Schumer stated earlier on Thursday that approving any of the amendments would require the bill to go back to the House, which would almost certainly lead to default.
  • Cash tsys are 0.6-1.8bp cheaper across benchmarks in Asia-Pac trade ahead of May Non-Farm Payrolls later today. BBG consensus expects an increase of 195k after +253k in April with the unemployment rate expected to rise to 3.5% from 3.4%.
  • There are no major data releases in Europe today.
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