MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

MNI: PBOC Conducts CNY2 Bln Via OMO Tues; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

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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EUR Market Wrap

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  • Bunds ended around 4bps cheaper – our DM team flagged little in the way of outright ‘explainers’ for the move cheaper but noted that investors may be unwilling to add positions ahead of tomorrow’s macro events.
  • Main/XO ended +0.6bp/3bp while €IG/€HY tightened 0.5bp/4.8bp with 5-7yr €IG spreads outperforming slightly at -0.8bp and Energy/Tech the biggest over/overperformers at -1bp/+0.3bp.
  • SXXP ended -0.4% with Basic Resources reversing earlier underperformance to finish in line though Tech ended -2%. Notable movers included Delivery Hero (+7%), BE Semiconductors (-9%), Raiffeisen (-7%) and Zealand (-7%).
  • Equity sentiment has been buoyant in Hong Kong, led by property and tech names though the tone for mainland shares has been much more mixed. Stoxx 50 futures are +0.6%.
  • Up today we have:

GMT/Local

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  • Bunds ended around 4bps cheaper – our DM team flagged little in the way of outright ‘explainers’ for the move cheaper but noted that investors may be unwilling to add positions ahead of tomorrow’s macro events.
  • Main/XO ended +0.6bp/3bp while €IG/€HY tightened 0.5bp/4.8bp with 5-7yr €IG spreads outperforming slightly at -0.8bp and Energy/Tech the biggest over/overperformers at -1bp/+0.3bp.
  • SXXP ended -0.4% with Basic Resources reversing earlier underperformance to finish in line though Tech ended -2%. Notable movers included Delivery Hero (+7%), BE Semiconductors (-9%), Raiffeisen (-7%) and Zealand (-7%).
  • Equity sentiment has been buoyant in Hong Kong, led by property and tech names though the tone for mainland shares has been much more mixed. Stoxx 50 futures are +0.6%.
  • Up today we have:

GMT/Local

Keep reading...Show less