CANADA FLASH MAY GDP +0.1% ON FACTORIES AND REAL ESTATE

MNI China Daily Summary: Friday, June 28

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

MNI: US MAY PERSONAL INCOME +0.5%; NOM PCE +0.2%

MNI: CANADA APR GROSS DOMESTIC PRODUCT +0.3% MOM

Inflation Slowed in June, Shaking Off May Hotel Price Jump

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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What to Watch: Fed Speak, Tsy Sec Yellen, Crude Drop, Home Sales

MARKET INSIGHT
US FI markets trading weaker, near low end narrow overnight range on light volumes (TYM2 appr 235k). Tsy 30Y futures actually near middle of range over last four sessions at 149-02 (-9), 30YY at 2.5120% -.0263.
  • Following Thu's NATO summit, US President Biden departed Brussels this morning for Poland to discuss Russia war in Ukraine response, humanitarian aide, refugee crisis with Polish President Andrzej Duda around 1000ET.
  • Markets watching crude decline (WTI -2.85 at 109.48; Brent -.93 at 117.37) after US pledge to help supply EU with LNG. "The partnership will ensure stable demand and supply for at least 50 bcm of US LNG until 2030, replacing one third already of the Russian gas going to Europe today," EU Commission tweet.
  • Data on tap at 1000ET:
    • Pending Home Sales MoM (-5.7%, 1.0%); YoY (-9.1%, -2.2%)
    • U. of Mich. Sentiment (59.7, 59.7)
    • U. of Mich. Current Conditions (67.8, 67.6)
  • Fed speakers including Tsy Sec Yellen:
    • SF Fed Daly opening remarks at annual mon-pol conference, time TBA
    • Tsy Sec Yellen interview on CNBC at 0800ET
    • Fed Gov Waller discusses digital currency, 0910ET
    • NY Fed Williams mon-pol outlook, BIS panel event w/Bank of Peru, 1000ET
    • Richmond Fed Barkin on containing inflation, Citadel event, 1130ET
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