MNI: PBOC Conducts Net CNY2 Bln Via OMO Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0947 Mon; -4.91% Y/Y

MNI: China CFETS Yuan Index Up 0.05% In Week of Apr 3

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

CHINA SETS YUAN CENTRAL PARITY AT 7.0947 MON VS 7.0949

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

MNI: SWISS MAR UNEMPLOYMENT -2.9% M/M, +17.1% Y/Y

Australia Feb Housing New Loan Commitments +1.5%

MNI BRIEF: Japan Feb Negative Real Wage Widens to -1.3%

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

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

Early Risk On Tone Turns More Cautious

CROSS ASSET

The positive risk tone from earlier has given way to a more cautious tone as the session has progressed. This is evident in the equity space, with US futures (Eminis) giving up around half of their gains, last around +0.4%, while EU futures have lost around ~1% from session highs. Regional equities are mostly lower (ex China).

  • This is supporting the USD; BBDXY is back to 1246, up from earlier lows near 1244. USD/JPY is the exception, which is back to 132.10/15 (versus earlier highs of 132.65).
  • US yields are comfortably off earlier highs, 2yr last near 3.95% (earlier high if 4.02%), while the 10yr is back to 3.46%, versus 3.513% earlier in the session. Yields remain above closing levels from NY last Friday.
  • One of the focus points in early Europe is likely to be the impact on holders of Credit Suisse bonds, which have been wiped out ($17bn worth of AT1 bonds).
  • In US markets the focus is likely to remain on mid-sized banks, which have seen a flight of deposits to larger institutions, and prompted calls for the FDIC to insure all deposits at such banks for the next two years.
HomepageCommoditiesEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
HomepageCommoditiesEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed 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.