CHINA: Central Bank Injects Liquidity via OMO. 

Mar-20 01:31
  • The PBOC issued CNY268.5bn of 7-day reverse repo at 1.5% during this morning’s open market operations.
  • Today’s maturities CNY35.9bn
  • Net liquidity injection CNY232.6bn
  • The CFETS Pledged Repo Deposit Institutions 7 Day Weighted Average is at 1.54%, from yesterday's close of 1.96%
  • China’s overnight interbank repo rate is 1.76% , from last nights close of 1.50%
  • China’s 7-day interbank repo rate is  1.50% , from last nights close of 2.10%
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Historical bullets

CHINA: Central Bank Injects Liquidity via OMO. 

Feb-18 01:28
  • The PBOC issued CNY489.2bn of 7-day reverse repo at 1.5% during this morning’s operations.
  • Today’s maturities CNY33bn.
  • Net liquidity injection CNY456.2bn, the largest injection following the Lunar New Year holiday.
  • The PBOC controls and maintains liquidity in the interbank system through the issuance of reverse repo.
  • The CFETS Pledged Repo Deposit Institutions 7 Day Weighted Average Index is at 1.50%, following yesterday’s close of 2.05%.
  • China’s Overnight Interbank rate was 1.8895%, from 1.90%.
  • China’s 7-day Interbank rate was 1.50%, from yesterday’s close of 2.10%. 
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MNI: CHINA PBOC CONDUCTS CNY489.2 BLN VIA 7-DAY REVERSE REPO TUES

Feb-18 01:22
  • CHINA PBOC CONDUCTS CNY489.2 BLN VIA 7-DAY REVERSE REPO TUES

CNH: USD/CNY Fixing Edges Lower, Error Term Tighter

Feb-18 01:19

The USD/CNH fixing printed at 7.1697, versus a BBG market consensus of 7.2570. 

  • The fixing continues to edge down, but greater shifts are being seen in the fixing error, now -873pips, versus yesterday's -951pip outcome.
  • USD/CNH is little changed in early Tuesday dealings, the pair last near 7.2660.