MNI China Daily Summary: Monday, October 21

MNI: GERMANY SEP PRODUCER PRICES -0.5% M/M

MNI BRIEF: PBOC Wants SWIFT Improvements - Dep Gov Lu

MNI NBH WATCH: Hold Expected, December Projections In Focus

MNI BRIEF: China Grid Investment Up 21.1% YTD

CHINA PRESS: Banking Regional Disparities Widening - Report

EZ/UK Bond Supply Calendar: IT, SK, EU, BE, BoE APF on Monday

MNI: GERMANY SEP PRODUCER PRICES -1.4% Y/Y

MNI: US SEP TREASURY BUDGET $64.3B

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

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US TSYS: Tracking Lower EGBs, Sovereign Supply WEighing

US TSYS
USGlobalBulletMarketsFixed Income BulletsRegionNorth America
  • Treasuries are extending late overnight lows, taking cues from weaker EGBs in the lead up to the NY open. Sovereign debt issuance and a uptick in crude prices (WTI +1.25 at 70.47) cited for moderate pressure over the last couple hours. US corporate supply rather muted at the moment, issuers sidelined as the current equity earnings cycle continues.
  • The Dec'24 10Y contract is currently -11 at one week lows of 111-28, 10Y yield +.0355 at 4.1184%. Curves mildly flatter: 2s10s -.345 at 12.899, 5s30s -1.362 at 49.887%.
  • Limited economic data kicks off the new week: Leading Index at 1000ET, focus on home sales flash PMIs, weekly claims, durables and UofM sentiment later this week.
  • Moderated Fed speak this morning from Fed Gov Logan at SIFMA's annual meeting (0855ET). Additional scheduled speakers later in the day: MN Fed Kashkari townhall (Q&A, livestreamed at 1300ET), KC Fed Schmid on economic & monetary policy (Q&A, text at 1705ET), SF Fed Daly at WSJ moderated discussion at 1840ET.
  • Treasury supply kicks off with $81B 13W and $72B 26E bills at 1130ET.
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  • Treasuries are extending late overnight lows, taking cues from weaker EGBs in the lead up to the NY open. Sovereign debt issuance and a uptick in crude prices (WTI +1.25 at 70.47) cited for moderate pressure over the last couple hours. US corporate supply rather muted at the moment, issuers sidelined as the current equity earnings cycle continues.
  • The Dec'24 10Y contract is currently -11 at one week lows of 111-28, 10Y yield +.0355 at 4.1184%. Curves mildly flatter: 2s10s -.345 at 12.899, 5s30s -1.362 at 49.887%.
  • Limited economic data kicks off the new week: Leading Index at 1000ET, focus on home sales flash PMIs, weekly claims, durables and UofM sentiment later this week.
  • Moderated Fed speak this morning from Fed Gov Logan at SIFMA's annual meeting (0855ET). Additional scheduled speakers later in the day: MN Fed Kashkari townhall (Q&A, livestreamed at 1300ET), KC Fed Schmid on economic & monetary policy (Q&A, text at 1705ET), SF Fed Daly at WSJ moderated discussion at 1840ET.
  • Treasury supply kicks off with $81B 13W and $72B 26E bills at 1130ET.