MNI China Daily Summary: Friday, May 17

MNI BRIEF: China Cities Must Ensure Housing Project Delivery

MNI BRIEF: PBOC Sets A New Tool To Bail Out Property Sector

MNI BRIEF: PBOC Abolishes Lower Housing Mortgage Limit

MNI BRIEF: China To Acquire Housing, Land Stocks From Developers

MNI BRIEF: China April Data Shows Insufficient Demand - NBS

Canadians Buy Record CAD35.6B In Foreign Securities In March

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +14.4B CAD IN MAR

EZ/UK Bond Supply Calendar: EFSF Synd; SK Auction, BoE APF 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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Two-Way Snap Reaction Turns To Steadily Building Rally

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  • Treasuries saw two-way trade immediately after the FOMC decision but are now increasingly bid and have broken through the day’s range.
  • Cash yields push to 6-7bps lower on the day.
  • TYM4 hits 107-29+, through the day’s high of 107-26 but within yesterday’s range. Resistance is seen at 108-11 (20-day EMA) but with the trend needle pointing south and support at 107-04 (Apr 25 low).
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  • Treasuries saw two-way trade immediately after the FOMC decision but are now increasingly bid and have broken through the day’s range.
  • Cash yields push to 6-7bps lower on the day.
  • TYM4 hits 107-29+, through the day’s high of 107-26 but within yesterday’s range. Resistance is seen at 108-11 (20-day EMA) but with the trend needle pointing south and support at 107-04 (Apr 25 low).