MNI BRIEF: China March Mfg. PMI Returns To Expansion

MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

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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Morgan Stanley on Fed Green Lighting Nov Taper Annc

FED

"The Fed delivered clear communication .. that a taper announcement in November is all but certain and that tapering is likely to be completed around mid-2022. We expect that, after announcing in November, the Fed to pursue a gradual taper of $10bn UST/$5bn MBS per month on a mid-month schedule, wrapping up by mid-June."

  • "This meeting was all about the balance sheet, with Powell stressing that no inference should be made regarding the path for rate hikes. Rates have to clear a higher hurdle and in our outlook that hurdle is met in 2Q23. We believe Chair Powell continues to see liftoff in 2023."
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