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CHINA: Country Wrap: PBOC Governor Commits to Further Support in 2025.

CHINA
  • The PBOC’s Governor Pan was speaking at a financial forum on Monday where he reiterated the Central Bank’s commitment to supporting the economy. (source: MNI – Market News)
  • Liquidity Withdrawal Continues by Central Bank via OMO. (source: MNI – Market News)
  • Equity markets were mixed today despite the supportive words from the PBOC Governor.  CSI 300 flat, Hang Seng +0.36%, Shanghai +0.20% and Shenzhen -0.02%.
  • CNY: Yuan Reference Rate at 7.1996 Per USD; Estimate 7.2691
  • Bonds:  the CGB 10-year finally broke through the 2.0% yield level today following the PBOC Governors comments. 
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  • The PBOC’s Governor Pan was speaking at a financial forum on Monday where he reiterated the Central Bank’s commitment to supporting the economy. (source: MNI – Market News)
  • Liquidity Withdrawal Continues by Central Bank via OMO. (source: MNI – Market News)
  • Equity markets were mixed today despite the supportive words from the PBOC Governor.  CSI 300 flat, Hang Seng +0.36%, Shanghai +0.20% and Shenzhen -0.02%.
  • CNY: Yuan Reference Rate at 7.1996 Per USD; Estimate 7.2691
  • Bonds:  the CGB 10-year finally broke through the 2.0% yield level today following the PBOC Governors comments.