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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

MNI BRIEF: China’s April Loan Prime Rate Unchanged

CHINA SETS YUAN CENTRAL PARITY AT 7.1043 MON VS 7.1046

MNI China Daily Summary: Friday, April 19

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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Treasuries Bear Steepen, Double Auction Day

US TSYS
  • Cash Treasuries bear steepen as they continue to claw back some of last week’s gains on poor data but see sizeable outperformance to European sovereigns on the day. Volumes are light ahead of important central bank speak later this week, whilst the curve remains within its relatively flat post-FOMC range, with 2s10s at 9bps.
  • 2YY +2.4bps at 3.087%, 5YY +3.7bps at 3.223%, 10YY +4.1bps at 3.171% and 30YY +4.8bps at 3.305%.
  • TYU2 trades 12 ticks lower at 116-31, moving back towards the middle of last week’s wide range amidst low volumes. Initial support is eyed at 116-25+ (Jun 23 low) clearance of which could open a 115 handle, whilst initial resistance remains 118-08 (Jun 23 high).
  • Data: Preliminary durable goods for May (0830ET), pending home sales for May (1000ET) and Dallas Fed manufacturing activity for June (1030ET).
  • Bond issuance: US Tsy $46B 2Y Note (91282CEX5) at 1130ET and US Tsy $47B 5Y Note (91282CEW7) at 1300ET
  • Bill issuance: US Tsy $42B 26W bill (1130ET) and US Tsy $45B 13W (1300ET)
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