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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

MNI BRIEF: China’s April Loan Prime Rate Unchanged

CHINA SETS YUAN CENTRAL PARITY AT 7.1043 MON VS 7.1046

MNI China Daily Summary: Friday, April 19

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

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What to Watch: New 10YY Cycle High, Housing Data, Fed Speak, 20Y Reopen

OUTLOOK

Tsys trading weaker - gradually extending lows into the NY opening bell, new cycle highs for 10YY yield at 4.1022% - as US FI markets follow EGBs lower (UK inflation rising to 40Y highs). Yield curves steeper (2s10s +1.906 at -40.934) amid heavier overnight volumes (TYZ2>425k).

  • US housing data midmorning: Building Permits (1.542M rev, 1.530M); MoM (-8.5% rev, -0.8%) and Housing Starts (1.575M, 1.462M); MoM (12.2%, -7.1%) at 0830ET. The Federal Reserve Beige Book released at 1400ET.
    US Tsy auctions:
  • US Tsy auctions: US Tsy $33B 17W bill auction at 1130ET; US Tsy $12B 20Y Bond auction re-open (912810TK4) at 1300ET
  • Fed Speakers kick off later in the session with MN Fed Kashkari moderated Q&A at 1300ET, Chicago Fed Evans economic outlook at 1800ET and StL Fed Bullard welcome remarks/annual lecture at 1830ET. Reminder, Fed enters media blackout midnight Friday.
  • Q3 Equity earnings continues, Elevance Health (ELV) beat: $7.53 vs. $7.098 est; Proctor & Gamble (PG) beat: $1.57 vs. $1.547 est; Baker Hughes (BKR) beat: $0.26 vs. $0.246
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