MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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What to Watch: Speaker Pelosi Asia Tour Stops, Fed Speak

MARKET INSIGHT

Tsy futures moderately bid across the board in lead up to NY open, near middle of overnight range on decent volumes w/ TYU2 just over 410k at the moment. Curves flatter but off lows after extending inversions Mon, 2s10s -31.033.

  • Geopol: Taiwan, China Engage In Military Posturing As Pelosi Visit Approaches: Number of headlines hitting wires regarding potential military posturing by both Taiwan and China ahead of US House Speaker Nancy Pelosi's anticipated visit to Taiwan.
  • Fed speakers round out thin economic data schedule:
    • SF Fed Daly interview on CNBC at 0945ET
    • Chicago Fed Evans media breakfast at 1000ET
    • Cleveland Fed Mester Washington Post live interview, 1300ET
    • StL Fed Bullard, on economy/mon-pol w/ Money Marketeers, 1845ET
  • Data coming up at 1000ET (prior, est):
    • JOLTS Job Openings (11.254M, 11.000M)
    • Wards Total Vehicle Sales throughout the session (13.0M, 13.40M)
  • Treasury auctions: Details of Thu's 4- and 8W bill sales anncd midmorning. Next Tsy quarterly refunding next Wed, Aug 3 at 0830ET.
  • Cross asset: Stocks mildly weaker (SPX eminis -24.25 at 4096.25) as flood of earnings continues, Spot Gold gains +7.27 at 1779.45, small bounce in Crude after Mon's rout (WTI -3.02 at 95.60).
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