MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

MNI BRIEF: Treasury's Yellen: Inflation Moving To Fed's Target

MNI BRIEF: China State Planner To Increase Trade-in Support

Japan Tokyo Jul Core CPI +2.2% Y/Y

MNI BRIEF: Japan July Tokyo Core CPI Rises 2.2% Vs. June's 2.1%

MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

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

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Weaker/Narrow Range Ahead Powell Policy Testimony, Employ Data

US TSYS
  • Treasury futures holding weaker after the bell, narrow range since midmorning. No obvious headline driver as Treasury futures scaled back a portion of Friday's rally amid cautious trade ahead Fed Chairman Powell's policy testimony to Congress Wed-Thu, Jobs report Friday.
  • Atlanta Federal Reserve President Raphael Bostic said his base case remains for two rate cuts this year, likely starting in the third quarter, and does not anticipate reductions at back-to-back meetings, adding he would like quantitative tightening to continue at the current pace for as long as possible.
  • No data Monday, ongoing corporate bond issuance (over $21B) generated some pressure via rate-lock hedging.
  • Tsy Jun'24 10Y futures mark 110-21 low (-12) are currently at 110-24.5 on the screen. 10Y yield 4.2327 high. Curves flatter flatter 2s10s -3.950 at -39.102. Initial technical support at 110-05+/109-25+ (Low Mar 1 / Low Feb 23).
  • Look ahead: Tuesday data calendar includes S&P Final PMIs, ISM Services, Factory Orders.
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