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MNI BRIEF: Fed's Williams Still Sees Rate Cuts This Year

MNI China Daily Summary: Monday, April 15

MNI: PBOC Sets Yuan Parity Higher At 7.0979 Mon; -4.90% Y/Y

MNI China Press Digest April 15: A-Shares, Exports, Property

MNI: PBOC Conducts CNY100 Bln MLF Mon; Rates Unchanged

MNI UK Inflation and Labour Preview - April 2024 Release

EZ/UK Bond Supply Calendar: Dutch DDA, gilts, RFGBs Due Tuesday

Bundesbank Weekly Activity Index Drops To 5-Month Low

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: UofM Sentiment, New Home Sales, Fed Speak

MARKET INSIGHT
Tsy yields recede from late overnight highs slightly after the bell, 30YY 3.2321% +.0325 vs. 3.2459% high, while yield curves inch flatter after couple rounds of 2Y block sales (2s10s -3.012 at 3.388).
  • Stocks holding modest overnight gains, ESU2 +27.25 at 3827.0; Crude higher (WTI +2.15 at 106.42); Gold reverses course, now mildly weaker at 1822.50.
  • Fed speakers: StL Fed Bullard spoke at UBS event in Zurich earlier on recession worries: unprecedented situation, models not going to give a clear picture. not seeing recession in personal consumption. Consumers flush w/ $3.5T in covid aid, appr 10% GDP sitting idle, expect people to get out in second/third quarter spend other than consumption. Repeats interest in front loading rate hikes to "slow down to a trend pace of growth as opposed to below trend."
    • SF Fed Daly Fox Business interview, 1315ET
    • SF Fed Daly, Shadow open market committee conf, text/Q&A tba, 1600ET
  • Economic data at 1000ET:
    • U. of Mich. Sentiment (50.2, 50.2)
    • U. of Mich. Current Conditions (55.4, 55.4)
    • U. of Mich. Expectations (46.8, --)
    • New Home Sales (591k, 590k); MoM (-16.6%, -0.2%)
  • Geopol: Wires reporting that German Chancellor Olaf Scholz and US President Joe Biden will hold bilateral talks in advance of the upcoming G7 leaders' summit in Schloss Elmau in the Bavarian Alps.
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