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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CHINA
- China 10Y yield has been retracing sharply higher this week despite the recent sell-off in equities, which has been mainly driven by the geopolitical uncertainty in Russia and the renewed fears of more regulatory crackdowns imposed by Beijing on private enterprises.
- Hang Seng Index is down over 5% in the past few days, gradually approaching its January low of 22,709.60.
- Market uncertainty remains elevated in China despite PBoC announcing clear easing signal recently to stimulate both the economic activity and domestic risky assets.
- Interestingly, China LT bonds have not been acting as ‘safe’ assets in recent weeks, and the 10Y yield continues to retrace higher this week after breaking back above the 2.804% key level (which corresponds to the 61.8% Fibo retracement of the 2.46% - 3.3580% range).
- Next ST resistance to watch on the topside stands at 2.8580% (100DMA).
- Key level to watch on the topside stands at 2.90%, which corresponds to the high of the LT downward trending channel.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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