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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Downside Risk To Australian House Prices

AUSTRALIA

Barrenjoey, a bank, is forecasting that house prices in Sydney are likely to fall significantly more than the 10% predicted by the RBA, as reported by the Australian. It is talking about Sydney house prices contracting 25% based on its rate forecasts but 30% if market expectations are used.

  • Barrenjoey also noted that mortgage payments as a share of disposable have risen to 49% from their pandemic low of 34%. This should rise further as the RBA rate hikes continue.
  • Long-term house prices should be supported by investors, as rental growth is currently growing at a double-digit pace.
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