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A 1-1.5% gain across Chinese stocks today.....>

CHINA
CHINA: A 1-1.5% gain across Chinese stocks today has extended the rally as the
CSI300 looks to follow in the footsteps of the Hang Seng and break out of down
trendline resistance. 
- Equity gains have finally begun to put some downside pressure on Chinese
rates, with the curve 4-5bps higher despite 10 year bond futures recovering
early losses to trade broadly flat. 
- USDCNH is up marginally on the day but off its highs with the pair forming a
bullish trend channel. A break below 6.7570 is needed to trigger a bear flag and
extend the drop to the 200-dma. 
- On the news front China's 2017 GDP was revised from 6.9% to 6.8%; 2018 GDP
comes out Monday, with talk of China implementing a target range of 6.0-6.5%
(currently around 6.5%).

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