MNI: Canada March Retails Flat After Feb Decline Led By Gas

STATSCAN SAYS FLASH RETAIL SALES WERE UNCHANGED IN MARCH

MNI China Daily Summary: Wednesday, April 24

MNI BRIEF: China Steel Demand Q2 Limited Rebound

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

MNI: PBOC Sets Yuan Parity Lower At 7.1048 Weds; -4.92% Y/Y

EZ/UK Bond Supply Calendar: Italy, EU Auctions, BoE APF Monday

US EIA: CRUDE OIL STOCKS EX SPR -6.37M TO 453.6M APR 19 WK

CBR Data Watch

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

2023 Breakeven Inflation Reaches 3.9%

POLAND
  • The 7D SMA of daily new Covid cases continue fell below 2,900, down from 4,200 the week before (and from 28,900 on April 1st). Poland PM Morawiecki said that the country will reopen cinemas and theatres on Friday, May 21, eight days earlier than originally planned.
  • On Friday, Final April CPI inflation came in at 4.3% (as Prelim) and GDP growth contracted less than expected in Q1, by -1.2% YoY (vs. -1.4% exp.).
  • Yesterday, economic data showed that April core CPI came in higher than expected at 3.9% (vs. 3.7% exp. and flat from previous month).
  • The 2023 breakeven inflation rate continues to trend higher, currently trading at 3.9%; hence, the bond market is currently not expecting inflationary pressures to ease in the second half of this year.
  • We have seen recently that a rising number of policymakers have been expressing their concerns over inflation risks, which could lead to a rise in disagreements over the trajectory of rates in the medium term.
  • Next economic data to watch are Average Gross Wages and Employment growth on May 20.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.