The headlines is the in a nutshell version of a note on the Federal Reserve outlook from TD.

  • Market expectations are already discounting an aggressive profile for rates
  • pricing will likely be contingent on this week's meeting between President Trump and Xi at the G20 summit

TD also highlight something else:

  • keep an eye out for China's official PMI data scheduled for release over the weekend

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OK, then, I suppose now is a good a time as any.

China official PMIs are due at 0100GMT on 30 June 2019

Manufacturing

  • expected 49.5, prior 49.4

Non-manufacturing

  • expected 54.1, prior 54.3

The private survey manufacturing PMI will follow on Monday, 1 July at 0145GMT

From Caixin/Markit::

  • expected 50.0, prior 50.2

And, these on July 3 at 0145GMT:

Caixin/Markit:

  • Services expected 52.6, prior 52.7
  • Composite prior 51.5