MEXICO: Government Starts Anti-Dumping Probe on China Alumunium Bar Imports
Mar-05 16:36
- "*MEXICO STARTS ANTIDUMPING PROBE ON CHINA ALUMINUM BAR IMPORTS" - BBG
- Some further colour on the above headline:
- Regarding this particular anti-dumping probe, this has been requested by national producers and importantly it follows Mexico also launching an antidumping investigation into laminated steel shipped from China and Vietnam on Monday.
- Bloomberg have noted that the economy ministry said that there are elements to presume that imports of aluminium bars from China were made under alleged conditions of price discrimination, causing injury to domestic production.
- For reference, President Sheinbaum said that any response on US tariffs could potentially include new tariffs on China, something US Treasury Secretary Scott Bessent called "very interesting".
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FED: US TSY 26W BILL AUCTION: HIGH 4.155%(ALLOT 95.65%)
Feb-03 16:32
- US TSY 26W BILL AUCTION: HIGH 4.155%(ALLOT 95.65%)
- US TSY 26W BILL AUCTION: DEALERS TAKE 24.87% OF COMPETITIVES
- US TSY 26W BILL AUCTION: DIRECTS TAKE 7.24% OF COMPETITIVES
- US TSY 26W BILL AUCTION: INDIRECTS TAKE 67.89% OF COMPETITIVES
- US TSY 26W BILL AUCTION: BID/CVR 3.04
FED: US TSY 13W BILL AUCTION: HIGH 4.220%(ALLOT 36.23%)
Feb-03 16:32
- US TSY 13W BILL AUCTION: HIGH 4.220%(ALLOT 36.23%)
- US TSY 13W BILL AUCTION: DEALERS TAKE 46.43% OF COMPETITIVES
- US TSY 13W BILL AUCTION: DIRECTS TAKE 5.62% OF COMPETITIVES
- US TSY 13W BILL AUCTION: INDIRECTS TAKE 47.95% OF COMPETITIVES
- US TSY 13W BILL AUCTION: BID/CVR 2.65
EUROPEAN INFLATION: Services Inflation Momentum At 3.5 Year Low
Feb-03 16:26
Eurozone services inflation momentum decelerated for the sixth consecutive month in January, according to the ECB’s seasonally adjusted data. Sequential price growth was 0.37% M/M (vs 0.32% prior), but 3m/3m growth eased to 2.45% (vs 2.61% prior), the lowest since September 2021.
- Analysts have questioned the reliability of the ECB’s seasonal adjustment methodology in recent months, and the uncertain nature of the January print (e.g. due to start of year price resets and weight changes) means some caution is still required when interpreting the latest data.
- However, at face value, the reading suggests ECB expectations for NSA Y/Y services readings to moderate during the course of this year remain intact.
- Details on the underlying drivers of the 3.9% Y/Y NSA services print (vs 4.0% prior) will be available in the January final HICP reading on Feb 24. President Lagarde has highlighted start of year price resets in categories like insurance as important to analyse in Q1.
- Non-energy industrial goods prices rose just 0.06% M/M SA, corresponding to a 0.59% 3m/3m rate (vs 0.44% prior).
- Together, this meant core inflation momentum eased to a 12-month low of 1.77% (vs 1.83% prior).
