Halister News

(Bloomberg) -- Yuan rises for fourth day; People’s Bank of China Deputy Governor Yi says it isn’t “strictly” pegged to the basket of currencies used as a reference, Shanghai Securities News reports.

• China has allocated more than 3.2t yuan ($490b) in quotas for local-government bond swap program at beginning of this year, 21st Century Business Herald reports; also says the country faces an urgent task to prevent home prices from steep drop
• Aussie snaps four-day rally after data showed retail sales increased 0.3% in January from month earlier, less than median estimate of a 0.4% gain
• Won rises for sixth day; South Korea’s foreign reserves fell for fourth straight month to $365.76b in February; Bank of Korea begins process to select 4 members for policy board: Yonhap
• Yen advances versus dollar; Bank of Japan Governor Kuroda says he’s not considering lowering negative interest rates further at this time, but will use “three dimensions” of qualitative and quantitative easing and negative rates as necessary to ensure price goal is met soon
  • Cash earnings gained 0.4% in January from year earlier, matching median estimate
  • Prime Minister Abe likely to call a general election this year, Hakubun Shimomura, his aide says
  • Abe nominates Makoto Sakurai to the Bank of Japan’s divided board to fill the seat of Sayuri Shirai, who recently voted against expanding monetary stimulus
• U.S. Treasuries steady, with yield on 10-year bonds at 1.832%; data today may show employers in the world’s largest economy added 195k jobs in February compared with 151k prior month: Bloomberg survey
• Ringgit snaps six-day decline; Malaysia’s exports probably rose 2.5% in January on year while imports gained 4.9%, leaving trade surplus of 7.6b ringgit ($1.8b), according to Bloomberg survey before data today
• Peso advances; Philippine consumer prices rose 0.9% in February on year, less than forecast 1.3% increase; banks’ non-performing loans at 1.75% of total at end-November, improving from 1.77% at end-October