MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

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

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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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NZGBS: Closed On A Strong Note

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NZGBs closed on a strong note, with benchmark yields 5-6bps lower. In the absence of domestic drivers, the local market drifted stronger through the session in line with US tsy dealings in today’s Asia-Pac session.

  • Cash US tsys are dealing flat to 1bp richer, with a flattening bias. News flow has been light.
  • (Bloomberg) -- RBNZ opened a public consultation on a new Business Expectations Survey. The survey will help it “to better understand the economic outlook including the inflation expectations of key decision makers”. (See link)
  • Swap rates closed 3-5bps lower, with the 2s10s curve steeper.
  • RBNZ dated OIS pricing is flat to 8bps softer across meetings, with November leading. A cumulative 63bps of easing is priced by year-end.
  • Tomorrow, the local calendar will see Card Spending data for February.
  • On Thursday, the NZ Treasury plans to sell NZ$275mn of the 0.25% May-28 bond and NZ$225mn of the 2% May-32 bond.
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NZGBs closed on a strong note, with benchmark yields 5-6bps lower. In the absence of domestic drivers, the local market drifted stronger through the session in line with US tsy dealings in today’s Asia-Pac session.

  • Cash US tsys are dealing flat to 1bp richer, with a flattening bias. News flow has been light.
  • (Bloomberg) -- RBNZ opened a public consultation on a new Business Expectations Survey. The survey will help it “to better understand the economic outlook including the inflation expectations of key decision makers”. (See link)
  • Swap rates closed 3-5bps lower, with the 2s10s curve steeper.
  • RBNZ dated OIS pricing is flat to 8bps softer across meetings, with November leading. A cumulative 63bps of easing is priced by year-end.
  • Tomorrow, the local calendar will see Card Spending data for February.
  • On Thursday, the NZ Treasury plans to sell NZ$275mn of the 0.25% May-28 bond and NZ$225mn of the 2% May-32 bond.