MNI China Daily Summary: Wednesday, April 17

MNI BRIEF: China To Quicken Project Construction - NDRC

MNI BRIEF:ECB Unifies Interest On Non-Monetary Policy Deposits

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

MNI: PBOC Sets Yuan Parity Lower At 7.1025 Weds; -5.39% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: US MBA: MARKET COMPOSITE +3.3% SA THRU APR 12 WK

US MBA: REFIS +0.5% SA; PURCH INDEX +5% SA THRU APRIL 12 WK

EZ Final Inflation Confirms Flash, But Services Contribution Up

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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Front-End Rates Outperformance To US Ahead Of 5Y Supply

CANADA
  • CAD fixed income sees some growing outperformance to the US at the front end, be it in rates with BAX futures cheapening only 7-9 ticks in the white pack vs up to 17 ticks for SOFR or 2Y GoC yields +4.0bps vs +8.5bps for Tsys, the latter after last week's trend underperformance.
  • Ahead, Canada continues its recent run of issuance with another C$3.5B of the 3.5% 5Y at 1200ET after last week’s 2Y and 10Y auctions.
  • Regional banking spillover aside, local focus will be on tomorrow’s CPI Feb print, with base effects starting to see more significant declines in Y/Y measures of inflation.
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