MNI: PBOC Sets Yuan Parity Lower At 7.0949 Weds; -4.77% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.0949 WEDS VS 7.0957

MNI China Daily Summary: Tuesday, April 2

MNI BRIEF: China to Incentivise Equipment Upgrades, Trade-Ins

MNI: PBOC Drains Net CNY148 Bln Via OMO Tues; Rates Unchanged

Seasonally Adjusted CPI Series: Flat Core Goods, Higher Services

EZ/UK Bond Supply Calendar: Belgian 30Y USD and Bund Auction Weds

MNI: US BLS: JOLTS QUITS RATE 2.2% IN FEB

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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Futures Ticking Lower

AUSSIE BONDS

Aussie bond futures have declined on the back of a modest cheapening in U.S. Tsys, with participants reacting to previously-flagged Fedspeak from Minneapolis Fed Pres Kashkari, while e-minis have paused their earlier downtick (inspired earlier by the weak Chinese PMI print, as well as headlines surrounding U.S. House Speaker Pelosi’s Asian tour). YM and XM are -4.5 and -5.5, respectively, with the former operating around session lows after failing to breach its overnight low. Bills run 3 to 7 ticks cheaper through the reds, bear flattening.

  • Elsewhere, Shanghai has reported no COVID cases for Sunday (vs. five for Saturday), likely helping to counter some worry re: soft Chinese economic data over the weekend. Note that Chinese Caixin m’fing PMI is due later today.
  • Up next, Melbourne Institute Inflation is due at the top of the hour, while ANZ Job advertisements will cross in ~45 mins time.
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