QUICK SUMMARY

• The US Dollar Index up 0.6% at 90.7
• Euro down 0.6% at 1.2069 (YTD: -1.2%)
• Yen down 1.0% at 109.65 (YTD: -5.8%)
• Onshore Yuan down 0.4% at 6.4566 (YTD: +1.1%)
• Swiss franc down 0.6% at 0.9091 (YTD: -2.6%)
• Sterling down 0.6% at 1.4052 (YTD: +2.8%)
• Canadian dollar down 0.2% at 1.2131 (YTD: +5.0%)
• Australian dollar down 1.5% at 0.7725 (YTD: +0.4%)
• NZ dollar down 1.6% at 0.7156 (YTD: -0.4%)

MACRO DATA RELEASES

• China (Mainland), Monetary Financial Institutions, Social Financing, Current Prices for Apr 2021 (PBC) at 1,850.0, below consensus estimate of 2,250.0
• China (Mainland), Monetary Financial Institutions, Uses of Funds, New loans, Current Prices for Apr 2021 (PBC) at 1,470.0, below consensus estimate of 1,600.0
• China (Mainland), Money supply M2, Change Y/Y for Apr 2021 (PBC) at 8.1, below consensus estimate of 9.3
• France, HICP, Change Y/Y, Price Index for Apr 2021 (INSEE, France) at 1.6, below consensus estimate of 1.7
• France, HICP, Final, Change P/P, Price Index for Apr 2021 (INSEE, France) at 0.2, below consensus estimate of 0.3
• Germany, HICP, Final, Change Y/Y, Price Index for Apr 2021 (Destatis) at 2.1, in line with estimates
• India, Production, Change Y/Y, Volume Index for Mar 2021 (MOSPI, India) at 22.4, above consensus estimate of 17.6
• Japan, Current Account, Balance, Current Prices for Mar 2021 (BOJ/MOF Japan) at 0.0, below consensus estimate of 2,796.2
• Norway, GDP, Mainland Norway, Change P/P for Q1 2021 (Statistics Norway) at -1.0, below consensus estimate of -0.7
• Philippines, Policy Rates, Reverse Repo, O/N (Borrowing) Key Rate for 12 May (Bangko Sentral ng) at 2.0
• Romania, Policy Rates, Policy Rate for 13 May (Cent. Bank, Romania) at 1.3, below consensus estimate of 1.3
• Sweden, CPI, All Items, Change P/P, Price Index for Apr 2021 (SCB, Sweden) at 0.2, in line with estimates
• Sweden, CPI, All Items, Change Y/Y, Price Index for Apr 2021 (SCB, Sweden) at 2.2, in line with estimates
• United Kingdom, GDP Estimated YY, Change Y/Y for Mar 2021 (ONS, United Kingdom) at 1.4, above consensus estimate of 1.0
• United Kingdom, GDP Estimated, Change M/M for Mar 2021 (ONS, United Kingdom) at 2.1, above consensus estimate of 1.3
• United Kingdom, GDP estimate 3m/3m for Mar 2021 (ONS, United Kingdom) at -1.5, above consensus estimate of -1.7
• United Kingdom, GDP, Total, at market prices, Change P/P for Q1 2021 (ONS, United Kingdom) at -1.5, above consensus estimate of -1.6
• United Kingdom, GDP, Total, at market prices, Change Y/Y for Q1 2021 (ONS, United Kingdom) at -6.1, in line with estimates
• United Kingdom, Production, Manufacturing, Change P/P for Mar 2021 (ONS, United Kingdom) at 2.1, above consensus estimate of 1.0
• United States, CPI, All items, Change P/P for Apr 2021 (BLS, U.S Dep. Of Lab) at 0.8, above consensus estimate of 0.2

RATES SPREADS

• 5Y German-US interest rates spread 3.2 bp wider
• 5Y Japan-US rates spread 6.9 bp wider
• 5Y Chinese-US rates spread 5.6 bp tighter

VOLATILITIES

• Deutsche Bank USD Currency Volatility Index currently at 6.61, unchanged (YTD: -0.68)
• Euro 1-Month At-The-Money Implied Volatility currently at 6.01, unchanged (YTD: -0.9)
• Japanese Yen 1M ATM IV currently at 5.88, up 0.2 on the day (YTD: -0.2)
• Offshore Yuan 1M ATM IV currently at 4.15, unchanged (YTD: -1.5)

NOTABLE MOVES IN SOVEREIGN CDS

• Turkey (rated BB-): up 11.8 basis points to 407 bp (1Y range: 282-621bp)
• Oman (rated BB-): up 6.6 basis points to 238 bp (1Y range: 228-676bp)
• Brazil (rated BB-): up 5.4 basis points to 179 bp (1Y range: 141-343bp)
• Colombia (rated BBB-): up 4.0 basis points to 132 bp (1Y range: 83-239bp)
• Government of Chile (rated A-): up 3.6 basis points to 54 bp (1Y range: 43-110bp)
• Mexico (rated BBB-): up 3.2 basis points to 96 bp (1Y range: 79-242bp)
• Russia (rated BBB): up 2.7 basis points to 95 bp (1Y range: 72-151bp)
• Peru (rated BBB+): up 2.6 basis points to 85 bp (1Y range: 52-106bp)
• Panama (rated BBB-): up 2.3 basis points to 71 bp (1Y range: 44-147bp)
• Malaysia (rated BBB+): up 1.1 basis points to 46 bp (1Y range: 33-109bp)

NOTABLE OTHER MOVERS TODAY

• Afghani up 2.6% (YTD: -0.4%)
• Haiti Gourde up 2.2% (YTD: -15.7%)
• Norwegian Krone down 1.0% (YTD: +2.8%)
• Korean Won down 1.1% (YTD: -4.1%)
• Swedish Krona down 1.3% (YTD: -2.2%)
• Australian Dollar down 1.4% (YTD: +0.5%)
• New Zealand $ down 1.5% (YTD: -0.3%)
• Brazilian Real down 1.6% (YTD: -2.1%)
• Turkish Lira down 1.7% (YTD: -11.8%)
• Fiji Dollar down 2.6% (YTD: -0.3%)