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

CHINA SETS YUAN CENTRAL PARITY AT 7.1025 WEDS VS 7.1028

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MNI EM China Daily Summary: Tuesday, April 16

MNI BRIEF: Japan March Exports Hit 4th Straight Rise

Japan Mar Exports +7.3% Y/Y; Imports -4.9% Y/Y

MNI: JAPAN MARCH EXPORTS +7.3% Y/Y; FEB +7.8%

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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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Making New Highs Again

US TSY FUTURES
Weaker stocks adding impetus to new duration highs in Tsys, yield curves bull flattening, decent volumes for this time in the session and after a slow start w/Asia out through Wednesday, TYM1 near 950k. CBOE vol index on the move: VIX 20.78 +2.47 high.
  • Support Impetus speculation: not risk-off but dealers in short base reduction mode with similar moves Monday (looking for confirmation if gap-bid continues tomorrow).
  • With job-gains mean-estimate for Fri's NFP closing in on 1M, speculation that prop, fast$ and dealers scaling back net short positions not that far off -- with Tsy and MBS inventories scaling back since February.
  • Blocks and stops exacerbating the current moves with cross asset hedging weighing on equities.
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BulletMarketsFixed Income Bullets

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