MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Bull Flattening Takes Hold Ahead Of Budget Speech

AUSSIE BONDS

Bull flattening in ACGB yield curve was evident, with U.S. Tsy curve undergoing a similar (albeit less pronounced) transformation. At typing, ACGB yields sit 1.7-8.3bp lower, as we await tonight's budget speech. The gap between 3-Year/10-Year yields narrowed at the margin and last sits at 48.75bp.

  • Futures contracts traded with a bullish bias, while flattening impetus took hold; YM last +1.0 & XM +5.5, stabilising near session highs after the initial rally. A rebound in Chinese/HK equities likely contributed to the moderation in demand for core FI assets.
  • Bills run unch. to +6 ticks through the reds.
  • Treasurer Chalmers said that accelerating inflation was the "primary influence" on the spending plan, as he prepares to deliver his budget speech at 19:30 AEDT/09:30 BST (see our preview here).
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