MNI China Daily Summary: Monday, November 18

MNI BRIEF: China’s October Youth Employment Rate Remains High

MNI BRIEF: Beijing Retail Sales Growth Decline Narrows In Oct

MNI: PBOC Net Injects CNY38.9 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1907 Mon; +0.11% Y/Y

CHINA PBOC CONDUCTS CNY172.6 BLN VIA 7-DAY REVERSE REPOS MON

Japan Sep Machine Orders -0.7% M/M

EZ/UK Bond Supply Calendar: EU Synd; SK, BE Auction on Monday

MNI: US SEP BUSINESS INVENTORIES +0.1%; SALES +0.3%

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Gapped higher overnight

BUNDS
  • The German Bund saw a higher gap on the overnight open, with the contract trading at its highest level since February, 10yr Yield has pushed through the March low Yesterday triggered by the US ISM miss, and although Price Paid was above Consensus, Employment saw a very large miss, lowest since Jul 2020, and Pre-pandemic, this was the lowest since 2009 although manufacturing does admittedly have a small share of payrolls at about 10%.
  • Regardless, Bonds and Rates market saw heavy Buying, and in turn Equity selling on recession fears, with Geopolitical risks also adding to Market direction.
  • Bund resistance is circa 134.90, while support comes at 134.32 (gap), followed by Yesterday's low of 133.77 initially.
  • This Morning sees, French and Italian IPs, but these will have limited impact with ALL EYES on the US NFP/AHE today.
  • Other US releases include, Factory Orders and final Durable Goods.
  • SUPPLY: Belgium 2033s, too small won't impact Bund.
HomepageBond Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.