MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: PBOC Injects Net CNY2 Bln Via OMO Fri; Rates Unchanged

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

CHINA SETS YUAN CENTRAL PARITY AT 7.0967 FRI VS 7.0968

MNI China Press Digest April 12: CPI, Upgrades, Hainan

MNI BRIEF: BOK Holds Policy Rate At 3.50% - Press

MNI: SPAIN MAR HICP +1.4% M/M, +3.3% Y/Y

MNI: FRANCE MAR HICP +0.2% M/M, +2.4% Y/Y

March CPI Supports Idea Of A May Rate Cut

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PPI Inflation Cools More Than Expected

US DATA
  • PPI final demand inflation surprisingly fell -0.5% M/M (cons +0.2%), pushing the annual rate down from 11.3% to 9.8% Y/Y (cons 10.4%).
  • Core measures of PPI (ex food & energy or ex food, energy & trade) also missed by two tenths at 0.2% M/M but that was more in line with yesterday’s core CPI miss with the Bloomberg survey not materially updated.
  • That said and very much at the margin, it’s potentially a faster decline than it looks vs the core CPI miss seeing its version of airfares increased +1.1% M/M vs the -8% M/M decline in CPI.
  • Initial claims meanwhile tick up 14k to 262k but were below consensus of 265k, from a downward revised 248k the prior week and outside of a payrolls reference week so likely to be downplayed.
  • Little immediate impact on 2Y Tsy yields before selling off 2.5bps and then giving most of it back over a space of 15 minutes to leaves yields -6.5bps on the day. 2s10s still sit at circa -40bps having been closer to -50bps prior to CPI yesterday at fresh post-2000 flats although still only back to late Fri/early Mon levels of inversion.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.