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

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

Inflation Slowed in June, Shaking Off May Hotel Price Jump

Broad-based Deceleration In June Core Metrics

MNI: ITALY JUN FLASH HICP +0.2% M/M, +0.9% % Y/Y; MAY +0.8% Y/Y

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: GDP, PCE, Fed Speakers, 7Y Sale

US TSYS
  • Tsys futures remain mixed, off recent lows (after German CPI comes out a little softer than expected, see 0806ET bullet), short end firmer (TUZ3 +1) as curves add to Wednesday's steepening to mid-May highs (3M10Y +4.904 at -84.475, 2Y10Y +3.937 at -49.270). Similarly, 10Y Treasury yields a little off this morning's new 16Y high of 4.6427% (+.0455) at 4.6303%.
  • Aside from ongoing headline watching regarding US government funding ahead potential shutdown on October 1, this morning's economic data kicks off with weekly claims, GDP and PCE figures at 0830ET, Pending Home Sales at 1000ET followed by Kansas City Fed Mfg at 1100ET.
  • Scheduled Fed speakers: Chicago Fed Goolsbee moderated Q&A at 0900ET. Later this afternoon, Fed Gov Cook attends a banking forum at 1300ET, while focus is on a livestreamed townhall event with Fed Chairman Powell at 1600ET. Richmond Fed Barkin on monetary policy at a Money Markets event at 1900ET.
  • US Treasury supply wraps up the week with $85B 4W and $75B 8W bill auctions at 1130ET, $37B 7Y Note auction (91282CHZ7) at 1300ET.
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