-(JP), the BANK OF JAPAN (YOU 'RE) LEAVES RATE UNCHANGED TARGET RANGE BETWEEN 0.0% TO 0.10%, AS EXPECTED >-(CN) CHINA MAR TRADE BALANCE: + $ 5.4 (B) (V)-$ 3.2 BE; Q1 $ 670M v-$ 1.0 B y/y
-(AU) AUSTRALIA MAR NAB BUSINESS CONFIDENCE: 3 V 1 PRIOR; BUSINESS CONDITIONS: 4 V 3 PRIOR
-(AU) AUSTRALIA MAR ANZ JOB ADVERTISEMENTS (M/M): 1.0% V 3.3% PRIOR (3-month low; 3rd consecutive m/m increase) >-(AU) AUSTRALIA AIG PERFORMANCE OF CONSTRUCTION INDEX: 36.2 V 35.6 PRIOR (first rise in 3 months; 22nd month of contraction)
-(ID) INDONESIA FEB M2 MONEY SUPPLY Y/Y: 17.7% V 17.2% PRIOR
-(A) MALAYSIA FEB INDUSTRIAL PRODUCTION Y/Y: 7.5% V 5.0% E; MANUFACTURING SALES VALUE Y/Y: 10.5% V 4.1% PRIOR
-(A) MALAYSIA FEB TRADE BALANCE (MYR): 10.6 B V 10.2 BE
-(UK) UK MAR LLOYDS EMPLOYMENT CONFIDENCE INDEX:-58 V-69 PRIOR
-(UK) UK MAR RICS HOUSE PRICE BALANCE:-10% V-13% (E)
-(CO) Colombia Mar Producer Price Index M/M:-0.2% v, 0.1% of the prior; Y/Y: 1.6% v 2.7% prior
-(CO) Colombia Feb Exports: $ 4.8 (B) v $ 4.7 (B) prior
-(AU) AUSTRALIA MAR NAB BUSINESS CONFIDENCE: 3 V 1 PRIOR; BUSINESS CONDITIONS: 4 V 3 PRIOR
-(AU) AUSTRALIA MAR ANZ JOB ADVERTISEMENTS (M/M): 1.0% V 3.3% PRIOR (3-month low; 3rd consecutive m/m increase) >-(AU) AUSTRALIA AIG PERFORMANCE OF CONSTRUCTION INDEX: 36.2 V 35.6 PRIOR (first rise in 3 months; 22nd month of contraction)
-(ID) INDONESIA FEB M2 MONEY SUPPLY Y/Y: 17.7% V 17.2% PRIOR
-(A) MALAYSIA FEB INDUSTRIAL PRODUCTION Y/Y: 7.5% V 5.0% E; MANUFACTURING SALES VALUE Y/Y: 10.5% V 4.1% PRIOR
-(A) MALAYSIA FEB TRADE BALANCE (MYR): 10.6 B V 10.2 BE
-(UK) UK MAR LLOYDS EMPLOYMENT CONFIDENCE INDEX:-58 V-69 PRIOR
-(UK) UK MAR RICS HOUSE PRICE BALANCE:-10% V-13% (E)
-(CO) Colombia Mar Producer Price Index M/M:-0.2% v, 0.1% of the prior; Y/Y: 1.6% v 2.7% prior
-(CO) Colombia Feb Exports: $ 4.8 (B) v $ 4.7 (B) prior
*** Markets Snapshot (as of 04: 30GMT) ***
-Nikkei225 + 0.2%
-& P/ASX-0.7%
-Kospi was 0.4%
-Taiwan Taiex + 0.1%
-The Singapore Straits Times + 0.2%
Shanghai Composite-1.0%
-Hang Seng-1.1%
-& P Futures + 0.1% at 1,376
-June gold + 0.6% at $ 1,653/oz
-May Crude-0.4% at $ 102.33
-Nikkei225 + 0.2%
-& P/ASX-0.7%
-Kospi was 0.4%
-Taiwan Taiex + 0.1%
-The Singapore Straits Times + 0.2%
Shanghai Composite-1.0%
-Hang Seng-1.1%
-& P Futures + 0.1% at 1,376
-June gold + 0.6% at $ 1,653/oz
-May Crude-0.4% at $ 102.33
*** Overview/Top Headlines ***
Asian markets were mixed with currencies little changed in the session. Most notable was the USD/JPY down 0.3% or about 30 pips to ¥ 81.28 after the Bank of Japan in a unanimous vote left rates unchanged and agreed to not announce any new monetary easing measures. The're also kept their economic assessment unchanged. You're reiterated that the y/y, rate of change in the CPI is unchanged and that they will pursue powerful monetary easing to combat deflation. EUR/JPY dipped to ¥ 106.56. China recorded a surprise trade surplus series in March of $ 5.35 (B) against a forecast for a deficit of $ 3.2 (B). Exports came in above expectations while imports were much lower than the 9.0% expected at 5.3%. While positive overall the lower imports indicate that demand may be weaker than initially thought, though the behavior should ease some fears of a hard landing. China Customs Bureau head Zheng said that the March trade data shows that the global situation remains "grim" and that the 2012 trade behavior likely to shrink vs. 2011. The AUD/USD jumped higher on the news to session highs of $ 1.0358 before falling back to $ 1.03. Markets will now look to Friday's release of China Q1 GDP data. Fed Chairman Bernanke said that financial stability mission is as important as monetary policy; The Fed no longer has the same tools to counter money fund problems. Economy is still far from recovering from the financial crisis. Fed's emergency lending power has not been seriously weakened.
Asian markets were mixed with currencies little changed in the session. Most notable was the USD/JPY down 0.3% or about 30 pips to ¥ 81.28 after the Bank of Japan in a unanimous vote left rates unchanged and agreed to not announce any new monetary easing measures. The're also kept their economic assessment unchanged. You're reiterated that the y/y, rate of change in the CPI is unchanged and that they will pursue powerful monetary easing to combat deflation. EUR/JPY dipped to ¥ 106.56. China recorded a surprise trade surplus series in March of $ 5.35 (B) against a forecast for a deficit of $ 3.2 (B). Exports came in above expectations while imports were much lower than the 9.0% expected at 5.3%. While positive overall the lower imports indicate that demand may be weaker than initially thought, though the behavior should ease some fears of a hard landing. China Customs Bureau head Zheng said that the March trade data shows that the global situation remains "grim" and that the 2012 trade behavior likely to shrink vs. 2011. The AUD/USD jumped higher on the news to session highs of $ 1.0358 before falling back to $ 1.03. Markets will now look to Friday's release of China Q1 GDP data. Fed Chairman Bernanke said that financial stability mission is as important as monetary policy; The Fed no longer has the same tools to counter money fund problems. Economy is still far from recovering from the financial crisis. Fed's emergency lending power has not been seriously weakened.
*** Speakers/Geopolitical/In the press ***
-(CN) China State Administration of Foreign Exchange (SAFE): China Reiterates will ", then" promote convertibility of the yuan-Chinese press
-(BR) Brazil Central Bank Tombini: Expects stronger growth in H2 v H1; SELIC rate target likely to drop this slightly above the record low
-(JP) Japan Fin Min Azumi: Welcomes opposition LDP's policy goal is to double the sales tax; LDP's plan shows 10% hike in sales tax is unavoidable >-(AU) Australia is close to breaching its A $ 250B debt ceiling less than a year after raising it to the new cap due to a larger than expected deficit-The Australian
-(CN), According to the China Securities Journal March new yuan loans may be CNY900B v CNY798Be with Q1 loans totaling CNY 2.35 T v CNY 2.4 T target
-(CN) China State Administration of Foreign Exchange (SAFE): China Reiterates will ", then" promote convertibility of the yuan-Chinese press
-(BR) Brazil Central Bank Tombini: Expects stronger growth in H2 v H1; SELIC rate target likely to drop this slightly above the record low
-(JP) Japan Fin Min Azumi: Welcomes opposition LDP's policy goal is to double the sales tax; LDP's plan shows 10% hike in sales tax is unavoidable >-(AU) Australia is close to breaching its A $ 250B debt ceiling less than a year after raising it to the new cap due to a larger than expected deficit-The Australian
-(CN), According to the China Securities Journal March new yuan loans may be CNY900B v CNY798Be with Q1 loans totaling CNY 2.35 T v CNY 2.4 T target
** * Equities * **
-THE DAP.AU: Has received offers for JV on non-producing uranium assets
-WPL.AU: Will delay final Browse decision; Was given approval to amendments to the Browse Basin retention leases
-SMI, 981. HK: Raises Q1 Rev guidance + 14-15% q/q (implies $ 330.1-333.0 M) from + 7-9% y/y, prior
-AUN.AU: ACCC approves deal with Foxtel; Deal unlikely to substantially lessen competition
-THE DAP.AU: Has received offers for JV on non-producing uranium assets
-WPL.AU: Will delay final Browse decision; Was given approval to amendments to the Browse Basin retention leases
-SMI, 981. HK: Raises Q1 Rev guidance + 14-15% q/q (implies $ 330.1-333.0 M) from + 7-9% y/y, prior
-AUN.AU: ACCC approves deal with Foxtel; Deal unlikely to substantially lessen competition
*** US Equities ***
-VVUS: Receives Notification of Qnexa (R) PDUFA Date Extension, delaying the new drug application (NDA) review by three months; -8.5% after hours
-HLIT: Reports prelim Q1 $-0.02.tar.bz2-$ 0.09, 0.03 v e $ 125-128 m v $ 137Me ($ 132-142M prior guidance); -4.0% after hours
-VVUS: Receives Notification of Qnexa (R) PDUFA Date Extension, delaying the new drug application (NDA) review by three months; -8.5% after hours
-HLIT: Reports prelim Q1 $-0.02.tar.bz2-$ 0.09, 0.03 v e $ 125-128 m v $ 137Me ($ 132-142M prior guidance); -4.0% after hours
*** FX/Fixed Income/Commodities ***
-(TW) Taiwan sells TWD40B vs. TWD40B indicated in 5-Year Bonds; Programmable Yield%
-Various container shipping firms plan to raise rates for routes between the US and Asia to $ 50-100/TEU-US financial press
-(AU) Newcastle Coal Exports in the week ended April 9th w/in: + 4.0
-(AU) Export from Australia's larger bulk commodity ports show a huge improvement y/y in Q1 despite heavy industrial action impacting the iron ore and coal sectors-the Australian Financial Review
-(TW) Taiwan sells TWD40B vs. TWD40B indicated in 5-Year Bonds; Programmable Yield%
-Various container shipping firms plan to raise rates for routes between the US and Asia to $ 50-100/TEU-US financial press
-(AU) Newcastle Coal Exports in the week ended April 9th w/in: + 4.0
-(AU) Export from Australia's larger bulk commodity ports show a huge improvement y/y in Q1 despite heavy industrial action impacting the iron ore and coal sectors-the Australian Financial Review
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