MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

MNI: US MBA: MARKET COMPOSITE -0.2% SA THRU JUL 05 WK

US MBA: REFIS -2% SA; PURCH INDEX +1% SA THRU JULY 5 WK

Indeed Wages Tick Higher, But Future Revisions Are Likely

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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Yields Firm Following US Lead, Swap Rates Largely Steady

AUSSIE BONDS

The early tone to Aussie bond futures is to the downside. The front end is leading, YM off -.03, while XM is -.150. This follows the softer US TSY backdrop on Thursday, with lower initial jobless claims and Fedspeak cautioning against early rate cuts.

  • For YMH4 we sit towards the bottom end of recent ranges but still above mid Feb lows of 96.11 (lats around 96.24).
  • ACGB yields are mostly higher, with a skew towards front end outperformance. The 2 and 3yr bonds both +2bps firmer, the 10yr up around 1bps at this stage.
  • In the swap space we are seeing steadier trends, the 2yr last near 4.01%, little changed for the session.
  • The local data calendar is empty today. Things ramp up next Wednesday when Jan CPI prints.
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