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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Price Signal Summary - Bund Reversal Extends

OUTLOOK
  • In the FI space, Bund futures lower today as price extends the reversal from Monday’s high of 140.30. For now, the retracement is considered corrective and is allowing a recent overbought condition to unwind. The next support lies at 135.73, the Mar 16 low ahead of the key short-term support at 134.65, the 20-day EMA. A break of the 20-day EMA would highlight a stronger reversal. Initial resistance is at 138.42, today’s intraday high.
  • Gilt futures above support at 103.12, the Mar 15 low. The outlook is bullish - for now - and potential is seen for a climb towards the 108.00 handle. The contract traded higher Friday and again Monday to reinforce bullish conditions. Short-term pullbacks are considered corrective. Firm support is seen at the 20-day EMA, where a break would strengthen any developing bearish threat. The average intersects at 102.93.
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