FED: US TSY TO SELL $58.000 BLN 3Y NOTES AUG 11, SETTLE AUG 17

• "*TRUMP: XI IS COMING HERE THIS SEPTEMBER"
• "*TRUMP: XI VISIT MAY BE SEPTEMBER 24" (BBG)

Similar rhetoric from ECB’s Wunsch to various appearances last week, acknowledging a more benign backdrop that doesn’t look like need significant tightening but at the same time no wanting to wait too long if there is a need to hike. 

• “Look, oil prices and gas prices have gone down, so if I would not be a bit more benign, I would probably look stubborn. So my hope, and let's see, because of course there is a lot of uncertainty, but it seems that the shock has disappeared, and according to the markets, that oil and gas prices would go back to initial levels, even maybe to below initial levels relatively soon. And of course, if the origin of the shock disappears before you have significant second round effects, and we haven't seen that much so far, and especially the wage development seem to be quite benign, that would point to a monetary policy reaction, maybe we need to do more, but that doesn't ask for say a tightening that would be significant.
• Now, a lot of things can still happen, but I'm relatively relaxed again under the condition of what we see in market forwards for energy, that we can get this under control and go back to target without having to rate hikes too much, but I'm not excluding another move. And then the point I made is, if we have to do that move, let's not wait too long. We will have a projection in September, but I'm a bit afraid that we would hike too late when the movement starts in the other direction.”

Riksbank's Seim when asked about the Riksbank exec board expressing some concern on inflation: 

• “We actually raised the forecast for the policy rate by 25bps, so we do see some upside risks to inflation, even if oil prices, I mean, there were signals that they were coming down with the extended ceasefire and the MOU between the US and Iran, and so forth. I very much share your [Schnabel’s] view that it's still a very fragile situation, and it's unclear to me what sort of damage has already been done, and this is also a view that I conveyed after the most recent monetary policy meeting. So I still do see risks that inflation could be too high going forward, but as I showed you in the figure in Sweden at the moment, inflation is in fact below target quite a bit, so we are, I would argue, in a good starting position in that sense, and I think it gives us some, sometimes some scope to wait actually.”