MNI: PBOC Injects Net CNY2 Bln Via OMO Thurs; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0968 Thurs; -4.96% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.0968 THURS VS 7.0959

MNI BRIEF: Brazil Inflation 3.93% In March, Lowest In 9 Months

MNI Brief: China Targets Standards Update To Support Trade-ins

CHINA MAR FOOD PRICES -2.7% Y/Y VS -0.9% Y/Y FEB

CHINA MAR CPI +0.1Y/Y VS MEDIAN +0.4%; FEB +0.7% Y/Y: NBS

MNI: US MAR TREASURY BUDGET -236.5B

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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What to Watch: Stocks, Headline Risk, StL Fed Bullard

MARKET INSIGHT
Inside range for US Tsy and Eurodollar futures this morning, the former bounced back to steady +/-.5 briefly, inching lower again on modest volumes (TYM2>300k). No headline driver for bounce off earlier lower levels, following similar bump up in EGBs, Gilts last few minutes.
  • Equities: SPX trading firmer (ESM2 +40.25 at 3938.0) actually making modest gains vs. last Fri's close around 3925.0, despite Wed-Thu sharp sell-off (techs and retailers recovered late Thu). No earnings today, but Best Buy (BBY) reports early Tuesday, Toll Bros (TOL) after the close Tue along w/ Intuit (INTU) and Nordstrom (JWN).
  • No economic data today, but StL Fed Bullard appears for FOX Business interview at 1300ET.
  • Back to headline watching and Geopol risk: Wires reporting that Finland's state-owned Gasum has stated that Russia intends to cut off its natural gas supply to Finland from 0400GMT on Saturday. Gasum has stated that it will continue to supply its customers through the summer season from other sources through the Baltic connector pipeline.
  • Meanwhile, US president Joe Biden and Republic of Korea President Yoon Suk Yeol delivered joint remarks from Pyeongtaek, ROK following a tour of a Samsung factory earlier. Biden is expected to use the remarks to urge the United States Congress to pass the Innovation and Competition Act, the bill designed to invigorate the US domestic semiconductor industry and increase competitiveness with China in areas of national security related to tech.
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