MNI China Daily Summary: Monday, April 1

MNI BRIEF: Caixin Mar Manufacturing PMI Hits One-Year High

MNI BRIEF: China To Support Belt&Road Green Finance -Ma Jun

MNI: PBOC Sets Yuan Parity Lower At 7.0938 Mon; -4.78% Y/Y

MNI: PBOC Drains Net CNY48 Bln Via OMO Mon; Rates Unchanged

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

BOJ MAR TANKAN: SMALL MFG INDEX -1; DEC +2; MEDIAN -1

BOJ JUN TANKAN LARGE MFG INDEX FORECAST AT +10

MNI BOJ MAR TANKAN LARGE MFG INDEX +11; DEC +13; MEDIAN +10

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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CEMEA Rates Snapshot: SAGBs Lead the Pack, Russia Lags

EMERGING MARKETS

Mixed trading is the order of the day today, with SA outperforming and Turkey and Russia locals underperforming their hard currency equivalents.


  • SA: Local curve seen bull flattening -6-8.3bp, with duration outperforming. 10Y yields stalling somewhat around 9.05.
  • Turkey: Local curve trades bear flatter on the day with 3-5Y yields most offered at +4-6bp.
    • By contrast, the USD curve is mostly in the green across the breadth with gains concentrated in 5-10Y tenors.
  • Russia: Local bonds the notable underperformer in the region, maintaining their bear flattening bias: 2Y +4bp, 3Y +3bp, 5Y +6bp – possibly pricing in a more hawkish CBR this week.
    • USD bonds trading little changed to slightly firmer across the breadth: 5Y -2.3bp.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Markets NewsHomepage

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