MNI China Daily Summary: Thursday, April 18

MNI BRIEF: M2 Growth To Slow On Weak Demand - PBOC's Zou

MNI BRIEF: PBOC To Watch CNY Moves Closely - Vice Governor Zhu

MNI BRIEF: China Aims To Digitalise 70% Of Firms By 2025

MNI BRIEF: Q1 Cross Border Activity Up 117.8% - Ministry

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

MNI: EUROZONE FEB CONSTRUCTION OUTPUT +1.8% M/M, -0.4% Y/Y

Q1 Industry Survey Suggests H1 Growth Tailwind

Indonesian Sov Curve Flattens, Barclays See BI Cutting Next Week

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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Tight Start For Core FI, RBA SoMP & ACGB Supply Eyed

BOND SUMMARY

T-Notes have stuck to a 0-02 range so far, with little to rock the boat on the wires. The contract last sits -0-02 at 132-19+. Cash Tsy yields are unch. to marginally lower, while Eurodollars run unch. to -0.5 tick through the reds. The monthly NFP report & Fedspeak from Barkin headline the local docket.

  • JGB futures hold steady and trade at 151.42, unch. vs the previous settlement, following the confirmation that the gov't wants to extend & expand the Covid-19 state of emergency. Local wage data overshot expectations. Cash JGB yields are unch. to slightly lower, with 3s outperforming. The MoF will hold a liquidity enhancement auction for off-the-run JGBs with 1-5 Year until maturity today.
  • YM trades flat, with XM +1.5, both have held narrow ranges. Cash ACGB curve has flattened a tad, with yields last seen +0.1bp to -1.4bp. Bills trade unch. to -1 tick through the reds. The RBA's SoMP, A$800mn of ACGB 0.25% 21 Nov '24 supply & the AOFM's weekly supply schedule take focus from here. China's Caixin Services PMI & trade balance will also provide some interest.
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