MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI BRIEF:ECB Unifies Interest On Non-Monetary Policy Deposits

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

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

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

EZ Final Inflation Confirms Flash, But Services Contribution Up

Contributions to the Y/Y change in CPI

Restaurants and hotels drive the upside surprise at first glance

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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Bear Steepening

AUSSIE BONDS

Bear-steepening impetus from U.S. Tsy space has spilled over into the ACGB space in early trade, as local participants have digested Wednesday's beat in U.S. CPI. Australian yield curve runs steeper, with yields last seen 0.9-4.1bp higher. YM trades -1.5, while XM last sits -4.0, both rangebound after overnight moves. Bills trade 1-3 ticks lower through the reds.

  • In local news, Health Min Hunt said that Australia wants to manufacture Moderna Covid-19 jabs locally. Elsewhere, Fitch said that Australia's strong economic and labour market recovery has improved public finances, reducing downside risks to the country's AAA credit rating.
  • Melbourne Institute will publish Australia's latest inflation expectations data today.
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