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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TTF Holding Steady After Decline Yesterday

NATURAL GAS

TTF is holding steady after finding some support this week with a short period of cooler weather expected to increase gas demand again next week. High gas storage levels, stable LNG supplies and progress towards a Freeport LNG restart in the US are limiting any market upside although front month is maintaining above the low of 51.85€/MWh from 27 Jan.

    • TTF MAR 23 down -0.6% at 56.7€/MWh
    • TTF SUM 23 up 1% at 60€/MWh
  • Freeport LNG has requested permission from the US regulator to restart some shipping activities but further approvals will still be required to resume commercial operations. Only very small gas pipeline flows have so far been seen flowing to the terminal, but vessel tracking shows several tankers waiting outside the port.
  • Total European LNG net imports flows were steady at 450mcm/d on 31 Jan.
  • Norwegian supplies are recovering from recent field outages back up to 335.4mcm/d today while Ukraine transit flows are also higher at 30.7mcm/d.
  • European storage is down to 71.64% full but still well above the normal of 51.9% for the time of year.
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