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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Contrasting Regional Fed PCE Measures

US
  • The Dallas Fed’s trimmed mean PCE held steady at 3.0% annualized in April, having stepped down from 4.1% in Feb after hitting 6.3% in Jan. The 6-month rate dipped another two tenths to 4.2% annualized.
  • In contrast, the Cleveland Fed’s median PCE measure increased back to +0.46% M/M from +0.24% M/M in March.
  • As a reminder, actual core PCE inflation firmed fractionally from an upward revised +0.33% to +0.34% M/M, in a batch of data that’s done little to change Fed hike expectations, with a cumulative 98bps for July and 181bps to year-end.
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