MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

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 Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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Anglo American(BBB/Baa2): Headwinds

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  • Iron Ore Plunges Most Since 2022 as Inventories Pile Up in China - bbg
  • AALLN Spreads continue to hold up, unchanged to 1 wider today.
  • Downgraded one notch to BBB by S&P on Friday.
  • Spreads already sit ~20bp wider from the tights of last month, but still ~20bp tighter YTD.
  • We continue to see AALLN spreads as tight vs Glencore in the belly of the curve.
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  • Iron Ore Plunges Most Since 2022 as Inventories Pile Up in China - bbg
  • AALLN Spreads continue to hold up, unchanged to 1 wider today.
  • Downgraded one notch to BBB by S&P on Friday.
  • Spreads already sit ~20bp wider from the tights of last month, but still ~20bp tighter YTD.
  • We continue to see AALLN spreads as tight vs Glencore in the belly of the curve.