EM ASIA CREDIT: Yuexiu Property: June sales lower, negative

GDP grew 0.2% q/q & 1.5% y/y in Australia in Q1 as extreme weather events in the quarter impacted domestic demand and exports. This is lower than Bloomberg consensus but in line with revisions by the big 4 local banks following Tuesday’s net exports, government and inventory data. See ABS press release here. More details to follow.

• MNI: AUSTRALIA Q1 GDP +0.2% Q/Q
• MNI: AUSTRALIA Q1 GDP +1.3% Y/Y

• The PBOC issued CNY214.9bn of 7-day reverse repo at 1.4% during this morning’s operations.
• Today’s maturities CNY215.5 bn
• Net liquidity withdrawal CNY0.6 bn.
• The PBOC monitors and maintains liquidity in the interbank system through the issuance of reverse repo.
• The CFETS Pledged Repo Deposit Institutions 7 Day Weighted is at 1.40%, from yesterday's close of 1.54%.
• The China overnight interbank repo rate is at 1.41%, from the prior close of 1.41%.
• The China 7-day interbank repo rate is at 1.58%, from the prior close of 1.56%.