Halister News

(Bloomberg) -- South Korea’s won rises and sovereign bonds decline; central bank holds benchmark rate in a decision that wasn’t unanimous; rate is accommodative enough: Governor Lee; uncertainties to growth path are high: BOK; North Korea fires two short-range ballistic missiles: South Korea; North Korea says all agreements with South nullified.

• China sets yuan reference rate lower for a second day; consumer prices rose 2.3% from year earlier in February, fastest pace since July 2014; median estimate was for 1.8% increase; PPI slid 4.9%, matching median estimate; deficit will help boost economic restructuring, Xinhua cites researcher with Councilor’s Office of State Council
• Kiwi falls for fourth day against dollar; Reserve Bank of New Zealand cuts official cash rate by 25 bps in move not forecast by majority of economists in Bloomberg survey; RBNZ says further easing may be required as inflation taking longer to reach target range
• Yen falls for second day against dollar; Japan’s PPI dropped 3.4% from year earlier in February, matching median estimate; Japanese bought net 1.5t yen ($13.2b) of overseas debt last week; Abe adviser Honda doesn’t see BOJ easing next week; BOJ would prefer asset purchases if it opts for stimulus: Reuters
• U.S. Treasuries fall, with yield on 10-year bonds up 1 bp to 1.890% in Asian trading; data today will show U.S. initial jobless claims for week ended March 5 were 275,000 after 278,000 in prior week: Bloomberg survey
• Peso gains for second day; Philippine exports fell 3.9% from year earlier in January, most in three months; median estimate was for 0.4% increase; Public-Private Partnership Center drafting circular that will govern new rules on PPP contracts