MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

Tax Revenue Tracking Around E10bln Lower than YTD Forecast (2/2)

Tax Revenue Tracking Around E10bln Lower than YTD Forecast (1/2)

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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10-Year Futures Up As Coronavirus Restrictions Extended

KOREA RATES
  • Futures higher in early trade in South Korea, 10-year contract sharply higher from the open at 128.02, up 22 ticks after declining from contract highs at 128.37 earlier this week. 3-Year future up 5 ticks at 110.31, weighed down by BoK rate hike expectations.
  • In the cash space yields are lower in early trade, which a touch of bull steepening evident; US cash tsys are closed due to the Japanese market holiday but 10-year US-SK spreads, though off recent highs of 80bps remain in an upward trend at 64.28bps from a low of 27bps in April. During the same period the South Korean 2-/10-Year spread has declined from 112bps to 64bps as markets seek the safety of bonds during the COVID-19 resurgence while balancing rate hike expectations.
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