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CHINA: Country Wrap: China’s CAIXIN up Strongly in November.

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  • In signs that the various policy measures are having an impact, China’s CAIXIN PMI Manufacturing bounced for November up to 51.5 from 50.3 prior.   This is the highest reading in five months and likely indicates that the impact of stimulus is starting to impact corporate activity and behaviors. (source:  MNI – Market News).
  • China’s 10-Year Yield Sinks to Record Low on Bets PBOC Will Ease (source:  BBG).
  • The Communist Party’s elite decision-making body skipped releasing a readout for its regular November meeting, a rare omission that comes as investors are hungry for any signs of more stimulus. (source: BBG).
  • China equities were strong across the board also bond yields threatened lows and the Caixin PMI Manufacturing rebounded.  China’s CSI 300 is up +0.70%, Shanghai +1.00%, Shenzhen +1.05% and Hang Seng +0.20%.
  • CNY - Yuan Reference Rate at 7.1865 Per USD; Estimate 7.2363
  • Bonds:  China’s 10-year government bond 2.02%
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  • In signs that the various policy measures are having an impact, China’s CAIXIN PMI Manufacturing bounced for November up to 51.5 from 50.3 prior.   This is the highest reading in five months and likely indicates that the impact of stimulus is starting to impact corporate activity and behaviors. (source:  MNI – Market News).
  • China’s 10-Year Yield Sinks to Record Low on Bets PBOC Will Ease (source:  BBG).
  • The Communist Party’s elite decision-making body skipped releasing a readout for its regular November meeting, a rare omission that comes as investors are hungry for any signs of more stimulus. (source: BBG).
  • China equities were strong across the board also bond yields threatened lows and the Caixin PMI Manufacturing rebounded.  China’s CSI 300 is up +0.70%, Shanghai +1.00%, Shenzhen +1.05% and Hang Seng +0.20%.
  • CNY - Yuan Reference Rate at 7.1865 Per USD; Estimate 7.2363
  • Bonds:  China’s 10-year government bond 2.02%