MNI China Daily Summary: Wednesday, April 24

MNI BRIEF: China Steel Demand Q2 Limited Rebound

MNI: Japan Nippon Life To Up Yen Bonds, Hedged Foreign Assets

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

MNI: PBOC Sets Yuan Parity Lower At 7.1048 Weds; -4.92% Y/Y

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

MNI: US MBA: MARKET COMPOSITE -2.7% SA THRU APR 19 WK

US MBA: REFIS -6% SA; PURCH INDEX -1% SA THRU APRIL 19 WK

CBI Price Expectations Highest Since February 2023

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bunds attempt to break lower

BOND SUMMARY
  • Bunds have been the underperformer in core fixed income this morning, breaching support at yesterday's low of 171.93 and the June 17 low of 171.80 before moving as low as 171.67. This move saw an intra-day breach of the 50-dma but we have since retraced most of the losses and at the time of writing have moved back to around 172.00. There is no real fundamental driver for the move.
  • Gilts also saw a weak open but have moved back to yesterday's closing levels while Treasury futures are little changed on the day.
  • The economic data calendar is rather quiet today with the highlight being UK public finance data which came in better than expected. US existing home sales are due up later.
  • In terms of central bank speakers the ECB's Lane and Schnabel are both due up as well as the Fed's Mester and Daly.
  • TY1 futures are down unch today at 132-06+ with 10y UST yields down -0.6bp at 1.484% and 2y yields down -0.9bp at 0.247%.
  • Bund futures are down -0.15 today at 172.01 with 10y Bund yields up 0.4bp at -0.169% and Schatz yields up 0.1bp at -0.656%.
  • Gilt futures are down -0.04 today at 127.58 with 10y yields down -0.1bp at 0.767% and 2y yields down -1.7bp at 0.102%.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.