This is the private survey manufacturing PMI. It's a different survey, different firms surveyed than in the official survey we got earlier. Tending to be smaller firms than those in the official survey.
Caixin Manufacturing PMI 48.6
- expected 49.2, prior 49.2
- Output and new orders have fallen to their lowest since February
- Export orders declined from May
- Employment contraction for the 32nd consecutive month
Ugly. This is the 16th month of contraction. And a 4 month low.
- Conditions in Q2 considerably weaker than in Q1
- Turbulent external environment
We got the official PMIs earlier today:
- China official manufacturing PMI for June: 50.0 (expected 50.0)
Meanwhile ... JGB yields are hitting new all time lows again today
- 2 year -0.31%
- 10 year -0.237%
- 5 year at -0.33%
Nikkei is +1.2%