EURIBOR OPTIONS: Large Call Condor

Moody's affirm China at A1, outlook changed stable from negative.

• Moody's note that "the stabilization of the outlook reflects our assessment that economic and fiscal strength will be resilient to ongoing domestic as well as trade and geopolitical challenges".
• They go on to flag that "while export growth will likely moderate, the competitiveness and resilience of Chinese exports to rapid changes in the global trade environment supports our expectation that GDP growth will slow only gradually over the medium term. Meanwhile, government policies that prioritize investment in high-productivity sectors while managing supply imbalances will improve capital efficiency. We expect policy makers will manage the debt resolution process for  regional and local governments (RLGs) in a controlled fashion, even as general government debt increases given substantial policy support to the economy".
• Click for full report.

• "CARNEY TO ANNOUNCE SOVEREIGN WEALTH FUND - GLOBE AND MAIL" - Reuters
• Full story is here: https://www.theglobeandmail.com/politics/article-carney-to-announce-sovereign-wealth-fund-monday/

• MNI: UK APR CBI RETAIL SALES REPORTED BALANCE -68 (-52 MAR)
• UK APR CBI RETAIL SALES EXPECTED BALANCE -60 (-49 MAR)