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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Bond Near Late Session Highs

US TSYS
Tsys near late session highs after the close, yield curves flatter; equities higher after making new all-time highs around midday (ESH2 4799.75), Gold well bid +11.60 at 1816.31, West Texas crude +.10 at 76.67.
  • Despite the best volumes of the week (TYH2>675k, thin year-end participation made for whippy trade in the first half -- last full session of 2021 w/early close New Years eve (1300ET).
  • Rates traded steady to mixed after weekly claims came out lower than est (-8k to 198k vs. 206k est). Pre-open bid in long end evaporated after the bell/well ahead data release, are holding near lows/early evening range.
  • Trimmed Gains Post-Chicago PMI: Tsy futures receded to steady/marginally mixed levels after slightly better than expected Chicago PMI: 63.1 vs. 62.0 est. USH2 weaker now, but just as quickly regained footing.
  • Data picks up as 2022 gets underway next week, Change in Nonfarm Payrolls for December next week Friday, wide range of sell-side opinions, mean est +400k so far vs. +210k in Nov.
  • The 2-Yr yield is down 0.8bps at 0.7382%, 5-Yr is down 2.4bps at 1.2726%, 10-Yr is down 3.6bps at 1.5134%, and 30-Yr is down 3.8bps at 1.9226%.
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