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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Early Rally Fades

GILTS
BulletMarketsFixed Income BulletsHomepageBank Of England (BOE) Market NewsBond Market News

Gilt futures only managed a limited and brief showing above 97.00 at the open, before backing off to last trade around 96.70.

  • Familiar technical parameters remain untouched in the contract, with the bearish technical backdrop intact.
  • Cash gilt yields are 1.0-1.5bp lower across the curve at typing.
  • Suggestions that the Israeli response to the recent Iranian attack were tame, the lack of damage to Iranian nuclear facilities and apparently limited Iranian appetite for an immediate response counter the initial rally in core global FI markets.
  • SONIA futures have unwound all of their early rally to last print flat to -1.0.
  • Looking ahead, comments from BoE’s Ramsden & Mann headline the domestic calendar today.
  • Geopolitical headline flow will receive heightened interest given overnight events.
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Gilt futures only managed a limited and brief showing above 97.00 at the open, before backing off to last trade around 96.70.

  • Familiar technical parameters remain untouched in the contract, with the bearish technical backdrop intact.
  • Cash gilt yields are 1.0-1.5bp lower across the curve at typing.
  • Suggestions that the Israeli response to the recent Iranian attack were tame, the lack of damage to Iranian nuclear facilities and apparently limited Iranian appetite for an immediate response counter the initial rally in core global FI markets.
  • SONIA futures have unwound all of their early rally to last print flat to -1.0.
  • Looking ahead, comments from BoE’s Ramsden & Mann headline the domestic calendar today.
  • Geopolitical headline flow will receive heightened interest given overnight events.