MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

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

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

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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BTP Spreads Edge Higher On Report Of Limited GC Impetus For New Tool

ECB

Given some public pronouncements by hawks ahead of June's meeting, it's probably no surprise from a Reuters sources piece just published that some ECB Gov Council members wanted a 50bp hike in July.

  • Slightly more interesting is the reported state-of-play on a new fragmentation tool. GC members this week "only briefly discussed the topic of 'fragmentation' ... and there was no debate about announcing a new tool. In fact, one source said there has been no progress on this topic since a seminar in April and work was only expected to resume in earnest in September."
  • This echoes MNI's sources reporting from last month that discussions on such a tool were "still at an early stage".
  • 10Y BTP spreads edged beyond the earlier session high of 218.3bp set during the Lagarde press conference, last 218.8bp (a fresh post-May 2018 high).
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