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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

MNI BRIEF: China’s April Loan Prime Rate Unchanged

CHINA SETS YUAN CENTRAL PARITY AT 7.1043 MON VS 7.1046

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Liquidity Challenged Ahead Sep NFP

US TSYS

Tsy futures weaker but off midmorning lows after the close where 10YY tapped 3.8418% high, 30YY 3.8140% high, before paring move into midday, initial impetus tied to sympathy move with sell-off in EGBs, particularly longer Gilts apparently as mkt expresses dissatisfaction with poorly researched/planned buy scheme introduced last week.

  • Off-sides positioning hampered by low liquidity ahead Friday's September NFP (+250k est vs. +315k prior; wide dealer range from +200k low to JPM high at +389k)
  • Sell-stops triggered on the way down while couple Dec'22 10Y future block sales (over 11k total) contributed to higher yields as did hawkish tones from Fed speakers (MN Fed Kashkari: high bar to change Fed's current path of higher rates to combat inflation).
  • The 2-Yr yield is up 8.7bps at 4.235%, 5-Yr is up 8bps at 4.0462%, 10-Yr is up 6.3bps at 3.8155%, and 30-Yr is up 3.6bps at 3.7896%.
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