MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

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:  Fed Speak, Claims, Housing, 10Y TIPS Sale, Earnings

US TSYS
Tsys weaker, extending lows last few minutes, Bonds back near middle of Wednesday session' range after making strong gains overnight. Current 30YY at 3.5718% (+.0340) after falling to 3.4866% low overnight; yield curves bear steepening (2s10s +2.385 at -69.301).
  • Early Fed-speak unlikely to move markets w/ Boston Fed Collins speaking at housing conference (text, no Q&A) at 0900ET. May not be the case w/ separate moderated Q&A sessions w/ Fed VC Brainard eco-outlook at 1315ET and NY Fed Williams, FI analyst Society event later this evening at 1835ET.
  • Morning data at 0830ET:
    • Initial Jobless Claims (205k, 214k); Continuing Claims (1.634M, 1.655M)
    • Building Permits (1.351M rev, 1.365M), MoM (-10.6% rev, 1.0%)
    • Housing Starts (1.427M, 1.358M); MoM (-0.5, -4.8%) and
    • Philadelphia Fed Business Outlook (-13.7 rev, -11.0)
  • Treasury actions: US Tsy $70B 4W, $60B 8W bills at 1130ET; $17B 10Y TIPS (91282CGK1) and $60B 44D CMB bill sales at 1300ET.
  • Equity earnings out of the way until this afternoon w/ PPG Ind, SVB Fncl, and Netflix after the close. Pre-open annc: TFC beat, M&T bank miss, Key bank miss, P&G in line.
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