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CHINA: Country Wrap: PMI’s to Show Path to Economic Recovery Slow.

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  • Beijing may be less willing to take a hard line on US trade tensions than some had thought. (source:  BBG)
  • PMI’s to Show Path to Economic Recovery Slow. (source: MNI – Market News)
  • Central Bank Drains Liquidity Ahead of Month End. (source: MNI - Market News)
  • The daily volatility for China equities continues to be a key theme into month end, despite efforts made by authorities.  The CSI 300 is leading the way today up +2% and on track to finish the month up +0.85%; the Hang Seng is telling a different story whilst +1% today, is on track to finish the month down -2.8%; Shanghai is up +1.5% today and on track to finish +1.4% for the month and Shenzhen is up +2.10%, looking to finish +1.00 for November.   
  • CNY:  Yuan Reference Rate at 7.1877 Per USD; Estimate 7.2409
  • Bonds: China’s 10-year government bond is approaching the 2% mark at 2.04% and break through that level would be the first time and could predicate intervention from authorities. 
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  • Beijing may be less willing to take a hard line on US trade tensions than some had thought. (source:  BBG)
  • PMI’s to Show Path to Economic Recovery Slow. (source: MNI – Market News)
  • Central Bank Drains Liquidity Ahead of Month End. (source: MNI - Market News)
  • The daily volatility for China equities continues to be a key theme into month end, despite efforts made by authorities.  The CSI 300 is leading the way today up +2% and on track to finish the month up +0.85%; the Hang Seng is telling a different story whilst +1% today, is on track to finish the month down -2.8%; Shanghai is up +1.5% today and on track to finish +1.4% for the month and Shenzhen is up +2.10%, looking to finish +1.00 for November.   
  • CNY:  Yuan Reference Rate at 7.1877 Per USD; Estimate 7.2409
  • Bonds: China’s 10-year government bond is approaching the 2% mark at 2.04% and break through that level would be the first time and could predicate intervention from authorities.