MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

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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Off Lows

AUSSIE BONDS

Further weakness in e-minis and a subsequent bid in the U.S. Tsy space has provided support for Aussie bond futures, which were already relatively resilient in early Sydney trade, perhaps representing a degree of cross-market demand vs. the likes of U.S. Tsys. YM is back to unchanged levels as a result, while XM is -6.5 on the day.

  • The cash ACGB curve has twist steepened around the 3-Year point, with a fairly parallel shift observed in the 10+-Year zone.
  • EFPs have narrowed, with the 3-/10-Year box flattening.
  • The front end of the IR strip has led the bid there, with those contracts running 1-8 ticks firmer on the day. Meanwhile, the IB strip has seen a modest reduction (3-8bp dependent on contract) of RBA tightening expectations.
  • Chinese trade data is eyed as the major regional risk event during Asia-Pac hours.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepageBond Market News
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
BulletMarketsFixed Income BulletsHomepageBond Market News

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