MNI BRIEF: BOE Rate Cut Closer But Still Some Way Off - Pill

MNI China Daily Summary: Tuesday, April 23

RPT-MNI INTERVIEW: Kaplan Says Loose Fiscal Is Holding Up Cut

MNI BRIEF: Hungary Central Bank Cuts To 7.75% As Expected

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

MNI: PBOC Sets Yuan Parity Higher At 7.1059 Tues; -5.03% Y/Y

EZ/UK Bond Supply Calendar: UK, GR Synd; DE Auction Wednesday

Tax Revenue Tracking Around E10bln Lower than YTD Forecast (2/2)

Tax Revenue Tracking Around E10bln Lower than YTD Forecast (1/2)

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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Retracing Yesterday's Rally With Another Solid Docket Ahead

US TSYS
  • Cash Tsys have on balance cheapened through the European session with relatively little spillover most recently from the UK Autumn Statement at typing (small bid), leaving yields firmly within yesterday’s rally-induced range. Should that remain the case, focus will quickly turn to Fedspeak starting with Bullard (’22 voter) at 0800ET and then housing, business activity and jobless claims data before issuance later in the session.
  • 2YY +1.1bps at 4.365%, 5YY +2.6bps at 3.876%, 10YY +3.7bps at 3.727%, and 30YY +2.6bps at 3.866%. 2s10s of -63bp pulls back off yesterday’s multi-decade lows of -67bps.
  • TYZ2 trades 7+ ticks lower at 112-31, off session highs of 113-09+ and yesterday’s high of 113-11, which now forms initial resistance.
  • Fedspeak: Bullard (0800ET), Gov Bowman (0915ET), Mester (0940ET), Gov. Jefferson (1040ET) and 2 x Kashkari (1040/1345ET).
  • Data: Housing starts (0830ET), Philly and Kansas Fed mfg surveys (0830/1000ET) plus usual weekly jobless claims.
  • Issuance: US Tsy $15B 10Y TIPS re-open (91282ZCEZ0) – 1300ET
  • Bill issuance: US Tsy $65B 4W, $55B 8W bill auctions – 1130ET
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