FED'S DALY SAYS THERE'S NO URGENCY TO CUT RATES

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

MNI: PBOC Sets Yuan Parity Higher At 7.0957 Tues; -4.95% Y/Y

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

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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House Maj Ldr: We Want BIF, Build Back Better On House Floor Next Week

US

Earlier today, House majority leader Steny Hoyer (D-MD) spoke on Congressional Democrats' plans to get the two major spending packages, the bipartisan infrastructure framework (the smaller Senate-passed plan) and the Build Back Better social spending package (the as-yet unagreed White House driven package), onto the House of Representatives floor at some point next week.

  • Hoyer: "The House will aim to consider the bipartisan infrastructure investment and jobs act and the build back better act this work period.[...] In the build back better plan and the bipartisan infrastructure framework plan, which is a bipartisan bill on the Senate side. I hope to bring both of those bills to the floor next week if they're ready."
  • There still seems to be a long way to go on the Build Back Better package, with leftist Senator Bernie Sanders (I-VT) and moderate Joe Manchin (D-WV) engaging in a major row over the sums of money involved in discussions on 21 October.
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