- (JP) Japan Apr national CPI Y/Y: 2.5% V 2.5%E; CPI ex-fresh food (core) Y/Y: 2.1% V 2.0%E (CPI and core CPI above 2.0% target, fastest core growth since Mar 2015).

- (JP) Japan MoF sells ¥1.2T v ¥1.2T indicated in 0.800% 20-year JGBs, Avg Yield: 0.7570% v 0.7240% prior, bid-to-cover: 3.77x v 3.10x prior.

- (JP) Former Japan top currency diplomat Sakakibara ('Mr. Yen'): Possible the USD/JPY can weaken to 150 (last time it traded at that rate was 1990); cites increasingly deepening monetary policy divergence.

- (JP) Japan Major banks have purchased most 10-year JGBs since 2014 during Apr; Global funds sold the most JGBs on record, cites the Japan Securities Dealers Association (JSDA).

- (JP) Bank of Japan (BOJ) offers to buy 5-10 year JGBs at fixed rate of 25bps; Opens window to buy unlimited amount of 10-year JGBs at 0.25% [as expected].

- (JP) Expected that Japan PM Kishida will announce a plan to increase defense spending - Japanese Press.

- (JP) Japan Senior Ministry of Finance Official [Heihachiro Ono] was arrested due to assault on a train on May 20th - Press.

Korea

- Kospi opened +0.5%.

- S-OIL Corp (010950.KR) Notes fire occurred at plant of Onsan refinery; has halted the number 2 alkylation line.

China/Hong Kong

- Hang Seng opened +1.7%; Shanghai Composite opened +0.3%.

- (CN) China PBOC monthly loan prime rate (LPR) setting: Maintains 1-year rate and cuts 5-year rate by 15BPS.

- (CN) China PBOC sets Yuan reference rate: 6.7487 v 6.7524 prior.

- (CN) China PBOC Open Market Operation (OMO): Sells CNY10B in 7-day reverse repos v CNY10B prior; Net CNY0B v Net inject CNY0B prior.

- (CN) Shanghai Apr Retail sales -48.3% y/y (during lockdown), Industrial production -61.5% y/y.

- (CN) China Securities Times: Financing demand may remain low during May, could lead to banks cutting the LPR 'soon'.

- (CN) China Ministry of Finance sells 3-month and 30-year bonds.

Other

- (ID) Indonesia Econ Min Hartarto: Will set Domestic Market Obligation for palm oil at 10Mt; Will reissue rules for cooking oil prices.

- (ID) Indonesia President Jokowi: To revoke ban on exports; To allow exports of cooking oil from Monday, May 23rd.

North America

- (CA) S&P raises Province of Alberta Issuer Credit Rating To A+ from A; Outlook Stable.

- (US) ~75% of economists polled (29/40) expects Fed to tighten faster than current rate path.

Europe

- NESN.CH US Approves imports of baby formula made by company into the US.

- (UK) May GfK Consumer Confidence: -40 v -39e (lowest since records began in1974).

Levels as of 01:20 ET

- Nikkei 225, +1.3%, ASX 200 +1.1% , Hang Seng +2.1%; Shanghai Composite +1.2% ; Kospi +1.9%.

- Equity S&P500 Futures: +0.8%; Nasdaq100 +1.1%, Dax +1.2%; FTSE100 +1.3%.

- EUR 1.0587-1.0554 ; JPY 128.21-127.52 ; AUD 0.7059-0.7002 ;NZD 0.6405-0.6363.

- Gold -0.1% at $1,839/oz; Crude Oil -1% at $108.84/brl; Copper flat at $4.2740/lb.

Author

TradeTheNews.com Staff

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General trend

Headlines/Economic data

Australia/New Zealand

Japan