MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

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

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

Indonesian Sov Curve Flattens, Barclays See BI Cutting Next Week

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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A calmer start

BOND SUMMARY

A calmer start for Bonds, as Equities reverse some of yesterday's big sell off.

  • This has in turn kept the lid on Govies, and curves bear steeper, but well within yesterday's ranges.
  • EU services PMIs were the early focus, but the data miss had little impact, with German Bobl supplies weighing.
  • Peripherals trade close to flat against the German 10yr, although Greece is the stand out, albeit at just 2.8bps tighter.
  • Gilts have traded inline with Bunds, also weighted going into UK 2031 and 2046 auctions.
  • UK curve sits bear steeper, while the contract trades in a tight 20 ticks range (127.88-128.08).
  • US Treasuries are also better offered with volumes picking up slightly during the European session, after a very quiet overnight session, with Japan and China on holiday.
  • The long Treasury strip trades in the red after Equity, like the Nasdaq and mini S&P recovers most of their losses
  • Looking ahead, US services PMI, but final reading here.
  • Speakers include ECB Vasle, Lane, and Fed Evans, Rosengren, Mester
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BulletMarketsFixed Income Bullets

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