MNI China Daily Summary: Monday, October 14

MNI BRIEF: China Sep M2 Rises To Four-Month High

MNI BRIEF: China Foreign Trade Grow Steady; Exports +4.3% YTD

MNI BRIEF: China Foreign Trade Facing Pressure In Q4

CHINA YTD NEW LOANS CNY16.0 TRLN VS MEDIAN CNY16.3 TRLN: PBOC

CHINA SEP EXPORTS +2.4% Y/Y VS MEDIAN +6.0% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.2% Y/Y IN YUAN TERM: CUSTOMS

MNI BRIEF: China Sep CPI Slows To 0.4% Y/Y On Base Effects

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.20B BSL

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

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EGBS: Cash Flows May Be Supportive Through the Rest Of October

EGBS
EurozoneBulletGlobalFixed Income BulletsRegionMarkets

Eurozone net issuance is expected to be negative for the next three weeks, which may provide some underlying support to EGBs in the absence of fundamental drivers.

  • MNI estimates net issuance at negative E18.6bln this week, its most negative since W/C 12 August.
  • This reflects expected issuance of E26.2bln, redemptions of E41.8bln and coupon payments of E2.9bln.
  • The largest redemption this week will be E22.5bln from the 0% Oct-24 Bobl, which will be available for reinvestment from Wednesday. E14.6bln from an Italian CCTeu.
  • Notable upcoming redemptions over the rest of October include E12.6bln from a formerly 7- year Belgian OLO, E11.7bln from a formerly 10-year Austrian RAGB and E24.2bln from a formerly 10-year Spanish Obli.
  • For more, see the MNI EGB Issuance, Redemption and Cash Flow Matrix here.
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Eurozone net issuance is expected to be negative for the next three weeks, which may provide some underlying support to EGBs in the absence of fundamental drivers.

  • MNI estimates net issuance at negative E18.6bln this week, its most negative since W/C 12 August.
  • This reflects expected issuance of E26.2bln, redemptions of E41.8bln and coupon payments of E2.9bln.
  • The largest redemption this week will be E22.5bln from the 0% Oct-24 Bobl, which will be available for reinvestment from Wednesday. E14.6bln from an Italian CCTeu.
  • Notable upcoming redemptions over the rest of October include E12.6bln from a formerly 7- year Belgian OLO, E11.7bln from a formerly 10-year Austrian RAGB and E24.2bln from a formerly 10-year Spanish Obli.
  • For more, see the MNI EGB Issuance, Redemption and Cash Flow Matrix here.