MNI China Daily Summary: Monday, April 15

MNI: China CFETS Yuan Index Up 0.22% In Week of Apr 12

MNI: PBOC Sets Yuan Parity Higher At 7.0979 Mon; -4.90% Y/Y

MNI China Press Digest April 15: A-Shares, Exports, Property

MNI: PBOC Conducts CNY100 Bln MLF Mon; Rates Unchanged

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

Feb Wholesale Falls Short Of Expectations

MNI:US MAR RETAIL SALES +0.7%; EX-MOTOR VEH +1.1%

MNI: CANADA FEB WHOLESALE SALES +2.3%; EX-AUTOS -0.1%

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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In-Line With Steeper Tsy Curve

US EURODLR FUTURES

Front end of Eurodollar futures strip surging higher, aside from lead quarterly EDM2 +5.5 at 98.15, the balance of Whites (EDU2-EDH3) trade +0.105-0.120 higher, Reds through Greens (EDM3-EDH5) +0.125-0.075, outpacing Blues through Golds (EDM5-EDH7) trade +0.070-0.020 higher.

  • Addressing question over "plausible soft landing" through judicious monetary policy: months of inversion at the front end of Reds (low measure of confidence in forward policy and/or Fed managing a soft landing/avoiding recession) is gradually off lows:
  • Red Sep (EDU3) currently trading 96.44 vs. Red Jun (EDM3) at 96.52, -0.080 vs. -0.11 this morning. Levels start to flatten out (dis-invert) around late Blue Dec'25/Mar'26 around 96.985.
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