MNI: REMINDER: MNI Connect Livestream with Fed Mary Daly On July 10

Spill over from a continued uptick in oil (WTI threatening a clean break above $65.00, with Brent doing the same at $67.00) means that any demand in core global FI markets is short-lived at this stage.

• Bund & TY futures back towards overnight lows, while BTP & gilt futures print fresh session lows.
• The gilt contract is also through Friday’s low.
• Tsy & Bund curves twist steepen, while UK yields see a parallel ~2bp shift higher across the curve.
• Little of note in terms of macro news flow over the past couple of hours.
• Geopolitics remains at the fore, with newswires flagging the potential for the U.S. -China meeting on trade to drag into Tuesday, while Axios have pointed to a call between U.S. President Trump and Israeli counterpart Netanyahu at some point during the U.S. morning.

Some desks are taking the opportunity of the quieter markets to start rolling ahead of the US CPI Wednesday. Expect for the Roll to be completed by Friday.

EURUSD (M5/U5), was initially bought in early trade, went as high as 0.00702, now sold at 0.00698.

PACE (update):

• EUR: 15%.
• GBP: 19%.
• JPY: 35% (above pace).
• CHF: 19% (above pace).
• CAD: 17%.
• AUD: 12% (below pace).
• NZD: 9% (below pace).

• -10,000 0QQ5 96.87 calls, 4.0 vs. 96.565/0.26%