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

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

Japan Mar Core CPI +2.6% Y/Y; Energy Price Fall Narrows

JAPAN MARCH SERVICES PRICES +2.1% Y/Y; FEB +2.2%

MNI JAPAN MARCH CORE CPI +2.6% Y/Y; FEB +2.8%

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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An Ultimately Unchanged US Session

STIR FUTURES
  • After a volatile US session, Fed hike expectations broadly mirror front end Tsy yields being back near where they were as the US came in (but still down notably on the day, 2YY -5.2bps).
  • FOMC-dated Fed Funds show 52bp for Jun, 102bps for Jul, 141bps for Sep and 194bps for Dec, the latter down from a high of 201bp yesterday.
  • George (’22 voter) played down the middle in a CNBC interview: “very comfortable with doing 50bps because I see the combination of that balance sheet runoff taking place” whilst not sounding particularly concerned about the current volatility / downside in financial markets. The nomination hearing for Barr passed without incident.
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