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

MNI: PBOC Sets Yuan Parity Higher At 7.1045 Fri; -3.53% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.1045 FRI VS 7.1020

MNI China Daily Summary: Thursday, May 16

MNI BRIEF: China To Take Necessary Measures Following Tariffs

CHINA APR INDUSTRIAL OUTPUT +6.7% Y/Y VS MEDIAN +5.4% Y/Y: NBS

US EIA:NAT GAS STORAGE +70 BCF TO 2,633 BCF MAY 10 WK

MNI: US APR INDUSTRIAL PROD +0.0%; CAP UTIL 78.4%

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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T-bill auction sizes to impact gilt issuance?

GILTS
  • Note that next week's T-bill auctions will raise the larger sum of GBP3.00bln rather than the GBP1.75bln we have seen recently with both the 3-month and 6-month amounts on offer to increase.
  • Remember that next week we have the Spending Review on Wednesday which will encompass new economic and fiscal forecasts from the OBR as well as a new remit from the DMO.
  • With these events in the calendar next week, it seems interesting that the DMO has chosen now to change the size of bill auctions.
  • It's probably trying to read through the lines a little too much, but this could have some potential knock-on effects to gilt issuance if the DMO decides to increase the stock of T-bills through larger auctions through the rest of the fiscal year.
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