MNI China Daily Summary: Wednesday, March 20

MNI BRIEF: PBOC To Facilitate Cross-border Financial Data Flow

MNI BRIEF: Swap Connect Quotas Currently Sufficient - PBOC

MNI: PBOC Conducts CNY3 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC INJECTS CNY3 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI China Press Digest March 20: M&A, Consumer Rights, FDI

MNI: EUROZONE JAN CONSTRUCTION OUTPUT +0.5% M/M, +0.8% Y/Y

MNI: ITALY JAN IP -1.2% M/M, -3.4% Y/Y

Little change for BOE expectations: CPI only saw very minor surprise

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

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Eurex has technical difficulties and....>

EGB SUMMARY
EGB SUMMARY: Eurex has technical difficulties and opened late. When the markets
did open the Mar-18 Bund contract opened little changed and stayed flat early
on. However, the contract saw a sharp decline from 163.40 to 162.91 on flow
rather than news and stop-losses built.
- After briefly stabilising, the contract pared most of its earlier losses
reaching pull back highs of 163.33 on the back of weak US CPI data.
- The yield on the 10Y part of the German curve heads into the close of the day
+0.3bp at 0.317%. The yield curve pivoted with the Schatz yield lower and 10Y
higher; the 2-10Y spread rose 1bp to 105.4bp.
- The Italian election date has apparently been set for March 4 and talks of
dissolving the Chamber of Deputies and Senate around Dec 28th or 29th. This news
hurt BTPs all day, leading Bund-BTP 10Y 7.9bp wider at 147.3bp.
- Bund-EGB spreads were wider across the board. Ireland suffered from news that
Facebook was no longer booking non-US revenues through Ireland. French debt also
widened 2bp to Bunds, led by long end weakness.
- In Germany, SPD and CDU/CSU continued talks but with no hard news.
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