MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

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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Evans Mindful Of Financial Market Stability

FED
  • Rate path: Sees Fed rates around 4.5% by March and then holding there for some time. Front loading a good thing but overshooting costly too. Need to be mindful of financial market stability.
  • On inflation: Sees some positive things for improving inflation climate and expects improvements in inflation but needs to see them after inflation persistence. Building on earlier comments that he is still waiting for convincing evidence that inflation is cooling.
  • On labor market: Signs that some of job market’s strength may be waning, JOLTS data go in right direction but vacancies are high.
  • Fed Funds implied hikes increase through the session with thin holiday volumes, with largest gains through 2023. Terminal now touches 4.70% for Mar’23 (+5bp on the day) with 4.45% for Dec’23 (+4bp).
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

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