MNI China Daily Summary: Thursday, March 13

MNI BRIEF: China Has Been In Communication With U.S. On Trade

MNI BRIEF: China To Enhance Customs Clearance

MNI INTERVIEW2: Policy Lag Justifies Faster CNB Easing - Holub

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

EZ/UK Bond Supply Calendar: SlovGB Auction Monday

US EIA:NAT GAS STORAGE -62 BCF TO 1,698 BCF MAR 07 WK

MNI: US FEB FINAL DEMAND PPI +0.0%, EX FOOD, ENERGY -0.1%

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

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CREDIT UPDATE: EU Credit Close

CREDIT UPDATE
BulletCredit Bullets
  • 2y/10y bunds closing -4bp/-3bp at 2.25%/2.53%, although off the lower levels of this morning. The Deepseek news triggered a risk-off move and potentially has disinflationary implications.
  • €IG closes +0.7 on average. Movers include ASML +4-5, WMG +4-5, IIILN +8.
  • SX5E/SPX futures are -0.5%/-1.8% at 5207pts/6025pts. €IG movers include Universal Music Group NV (+7%), AT&T Inc (+6%), Givaudan SA (+6%), Siemens Energy AG (-20%), Digital Realty Trust Inc (-13%), Amphenol Corp (-10%), Dell Technologies Inc (-9%).
  • Primary had just a FRN from CM.
  • Main/XO ending +1.1bp/+5bp at 54.3bp/294bp.
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  • 2y/10y bunds closing -4bp/-3bp at 2.25%/2.53%, although off the lower levels of this morning. The Deepseek news triggered a risk-off move and potentially has disinflationary implications.
  • €IG closes +0.7 on average. Movers include ASML +4-5, WMG +4-5, IIILN +8.
  • SX5E/SPX futures are -0.5%/-1.8% at 5207pts/6025pts. €IG movers include Universal Music Group NV (+7%), AT&T Inc (+6%), Givaudan SA (+6%), Siemens Energy AG (-20%), Digital Realty Trust Inc (-13%), Amphenol Corp (-10%), Dell Technologies Inc (-9%).
  • Primary had just a FRN from CM.
  • Main/XO ending +1.1bp/+5bp at 54.3bp/294bp.