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MNI China Daily Summary: Friday, March 24

MNI BRIEF: Taiwan Unemployment Up Slightly In February

MNI: PBOC Net Drains CNY173 Billion via OMOs Friday

MNI: UK MAR FLASH MANUF PMI 48.0 (FCST 49.7); FEB 49.3

PMI: Growth outside Germany and France strongest

MNI: EUROZONE MAR FLASH MANUF PMI 47.1 (FCST 49.0); FEB 48.5

MNI BRIEF: Yellen Says Americans' Deposits Are Safe

MNI BRIEF: Italy ESM Ratification Framed In EU’s Fiscal Debate

MNI: Freeland-Banks Well Capitalized, Budget To Focus Stimulus

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GoCs/Rates Modestly Richer As They Consolidate Post-FOMC Shift

CANADA
BulletMarketsFixed Income NewsHomepageCanada Bank of Canada Market NewsFOMC Calendar Market News
  • Moving later into the session, GoC yields are in the middle of session ranges, sitting 2-3.5bps lower through 2-10Y tenors after yesterday’s 6-8bp decline with the FOMC.
  • They’re led by the 10Y after a further increase in b/c at the earlier auction.
  • GoCs broadly track with Treasuries on the day despite weaker than expected building permits, although see some outperformance in rates, notably so for 1H24 contracts with BAH4 +0.09 vs SFRH4 +0.025.
  • US payrolls and potentially ISM services firmly in the driving seat tomorrow amidst a blank Canadian docket.
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  • Moving later into the session, GoC yields are in the middle of session ranges, sitting 2-3.5bps lower through 2-10Y tenors after yesterday’s 6-8bp decline with the FOMC.
  • They’re led by the 10Y after a further increase in b/c at the earlier auction.
  • GoCs broadly track with Treasuries on the day despite weaker than expected building permits, although see some outperformance in rates, notably so for 1H24 contracts with BAH4 +0.09 vs SFRH4 +0.025.
  • US payrolls and potentially ISM services firmly in the driving seat tomorrow amidst a blank Canadian docket.