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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

MNI BRIEF: Beijing Opposes U.S. Measures Against Chinese Steel

MNI China Daily Summary: Thursday, April 18

Japan Mar Core CPI +2.6% Y/Y; Energy Price Fall Narrows

JAPAN MARCH SERVICES PRICES +2.1% Y/Y; FEB +2.2%

MNI JAPAN MARCH CORE CPI +2.6% Y/Y; FEB +2.8%

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

UK hiking probabilities reassessed (again)

BONDS
  • UK market pricing has continued to bounce around this week, with expectations of hikes increasing again today, helping gilts to underperform both Bunds and Treasuries. The triggers include a better than expected retail sales print (which is still very disappointing in the details and showing a downtrend) and more sellside outfits increasing their BOE hike expectations after the strong labour market data earlier this week. BOE Chief Economist Huw Pill also spoke this morning and sounded as though he would back 25bp hikes at the next two meetings and potentially then continue voting for 25bp. He sounded far away from voting for a 50bp hike, though, in our opinion. For more on Pill's speech click here.
  • The gilt curve has largely seen a parallel move with US and German curves bear steepening a little - reversing some of yesterday's moves.
  • The rest of the day's calendar looks rather light with ECB's Centeno and de Cos both due to speak again (but unlikely to say much new). We also have Eurozone consumer confidence data at 15:00BST / 16:00CET.
  • TY1 futures are down -0-3 today at 119-19+ with 10y UST yields up 2.4bp at 2.864% and 2y yields up 2.1bp at 2.631%.
  • Bund futures are down -0.52 today at 153.36 with 10y Bund yields up 3.5bp at 0.982% and Schatz yields up 1.9bp at 0.376%.
  • Gilt futures are down -0.53 today at 118.58 with 10y yields up 4.7bp at 1.910% and 2y yields up 4.7bp at 1.525%.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.