MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI BRIEF: China Politburo Flags Policy Support; 3rd Plenum In July

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI BRIEF: Caixin Apr Manufacturing PMI Hits Over One-year High

MNI BRIEF: China April Mfg. PMI Moderates To 50.4

Labour Market Softer On Most Metrics Except Headline Employment

Strong Q1 GDP Print Consistent With Survey Outperformance

GDP Bounces On Construction / Exports; Weaker End-2023 On Revisions

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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Payrolls Saw JPM Push Back First Cut Call From June To July

US OUTLOOK/OPINION
Homepagemarkets-real-timeBulletJPMorgan Market News Fixed Income BulletsForeign Exchange BulletsMarkets

  • JPMorgan wrote after Friday's payrolls report that “Job growth surged again in March, with nonfarm employment increasing by 303k,000. Unlike prior months, that message of strength wasn’t sullied by large downward revisions or a disappointing household survey.”
  • “The easing in wage inflation alongside solid job growth is a testament to the to the supply-side improvement in the labor market.”
  • “While the favorable supply-side developments are consistent with Powell’s benign view of the outlook, the apparent absence of any cracks developing on the demand side should lessen the urgency to ease policy, and we are pushing back our call for the first Fed cut from June to July but are still looking for cuts at subsequent SEP meetings thereafter.”
  • “Perhaps the most disappointing statistic in the household survey was the survey response rate, which slid to 67.2%, the lowest ever except for one month in the peak of the pandemic.”
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  • JPMorgan wrote after Friday's payrolls report that “Job growth surged again in March, with nonfarm employment increasing by 303k,000. Unlike prior months, that message of strength wasn’t sullied by large downward revisions or a disappointing household survey.”
  • “The easing in wage inflation alongside solid job growth is a testament to the to the supply-side improvement in the labor market.”
  • “While the favorable supply-side developments are consistent with Powell’s benign view of the outlook, the apparent absence of any cracks developing on the demand side should lessen the urgency to ease policy, and we are pushing back our call for the first Fed cut from June to July but are still looking for cuts at subsequent SEP meetings thereafter.”
  • “Perhaps the most disappointing statistic in the household survey was the survey response rate, which slid to 67.2%, the lowest ever except for one month in the peak of the pandemic.”