Japan government nominates reflationists to BoJ Policy Board to replace dissenters Kiuchi, Sato, both Goushi Kataoka and Hitoshi Suzuki hail from MUFJ Group, Kataoka has written on tax barriers, Suzuki market experience.
Moody's - Japan economic momentum building on the back of rising exports, expected fiscal support.
Japan FinMin Aso – To discuss broad economic framework with US, not bilateral FTA – Reuters.
US CommSec Ross – Eager to boost trade relations with Japan – Reuters.
US TsySec Mnuchin concedes US tax reform slowed by healthcare blow – FT.
US Feb net overall capital inflow $19.3 bln, Jan rev $121.2 bln, prelim $110.4 bln, foreign holdings of US Treasuries -$13.5 bln, Jan -$7.2 bln, China holdings $1.060 trln vs Jan $1.051 trln, Japan $1.115 trln vs $1.103.
FOMC ViceChair Fischer – Sees no repeat of taper tantrum this time around, balance sheet plan won’t affect Fed policy – Reuters.
China Q1 non-financial outbound direct investment -48.8% y/y to $20.54 bln, March only -30.1% to $7.11 bln.
China March home prices +0.6% m/m, +11.3% y/y, Feb +0.3%, +11.8%.
RBA April meeting minutes – Steady rates consistent with growth-inflation targets, boxed-in by soft jobs, hot housing, rising AUD would complicate economic adjustment.
Foreign holdings of NZ government debt in March off to 59.0%, Feb 60.0%.
Clock ticking on consumer-led UK recession – James Saft, Reuters Column.
UK Weetabix to be sold by China interests to US Post Holdings for $1.76 bln - Financial Times.
Economic Data Ahead
(0830 ET/1230 GMT) United States Mar housing starts, 1.25 mln AR forecast; last 1.29 mln, +3.0% m/m.
(0830 ET/1230 GMT) United States Mar building permits, 1.25 mln AR forecast; last 1.22 mln, -6.0% m/m.
(0915 ET/1315 GMT) United States Mar industrial production, +0.5% m/m forecast; last +0.1%.
(0915 ET/1315 GMT) United States Mar capacity utilization, 76.2% forecast; last 75.9%.
Key Events Ahead
N/A Spain 3/9-mo t-bill, France 3/6/12-mo BTF, ESM 6-mo bill auctions.
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