MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

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 Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

INE Business Confidence Data Supports Upward Revisions In Q1 GDP Forecasts

MNI: GERMANY FEB PRODUCER PRICES -2.9% Y/Y

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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EGB/Gilt: Cautious  Trading Amid Equity Concerns

BOND SUMMARY

EGBs are a touch weaker this morning amid fresh losses for equities in the wake of concerns about Chinese tech stocks and the regulatory clampdown.

  • Gilts have traded firmer this morning, in contrast to EGBs. Cash yields are broadly 1bp lower across the curve, which is close to flat overall.
  • Bunds have lacked direction, with yields only marginally above yesterday's close.
  • OATs similarly trade soft with price action relatively contained.
  • It is a similar story for BTPs, which trade in line with core EGBs.
  • Eurozone GDP data for the second quarter came in better than expected (2.0% Q/Q vs 1.5% survey). Headline inflation for July was similarly above consensus at 2.2% Y/Y vs 2.0% expected.
  • Supply this morning came from the UK (Bills, GBP3bn).
  • Market focus shifts to the US PCE data later today.
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