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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
- LT bond yields have been rising in the past two weeks despite the surge in geopolitical uncertainty and a slight decline in the economic surprise indicator.
- China 10Y yield has been approaching a key resistance at 2.80%, which corresponds to the 50DMA and the 61.8% Fibo retracement of the 2.46% - 3.36% range.
- A break above that level would open the door for a move up to 2.86% (100DMA).
- Most of the move in China 10Y yield has been driven by the sharp upward retracement in major DM LT bond yields; we saw that German 10Y yield has surged by nearly 40bps in the past three weeks.
- On the downside, key support to watch on China 10Y yield stands at 2.67% (76.4% Fibo), which was rejected in the end of last month.
- Next important data to watch will be inflation update coming on February 16; inflationary pressures are expected to continue to ‘ease’ with sell-side firms forecasting PPI to decelerate to 9.5% in January (vs. 10.3% the previous month).
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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