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CHINA: Reports that the deficit Ceiling are to be raised. 

CHINA
EM BulletAPACChinaEmerging Market NewsBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets
  • Last week’s China data releases have some positives within it with Industrial Production robust, retail sales better than expected whilst property related data remains poor.
  • This week the key data will be 1-year and 5-year Loan Prime Rates with no change expected. 
  • China will likely raise its deficit ratio next year to above 3% of its gross domestic product after Finance Minister Lan Fo’an pledged to implement more “forceful” fiscal policies, China Securities Journal reported Monday (source:  BBG)
  • China’s key stock markets had a challenging week with the CSI300 down -3.29%, the Hang Seng down -6.2%, Shanghai Comp down -3.5% and Shenzhen down 4%.  Markets are opening positive for the week all up over 1% except Shenzhen which is down -0.2%.
  • CNY :  finished the week 0.63% weaker at 7.2294 and has traded higher again.
  • Bonds continue to be resilient with the China 10-year yield barely moving over the week to finish 2.086% and has climbed 1bp higher in today’s trading.  
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  • Last week’s China data releases have some positives within it with Industrial Production robust, retail sales better than expected whilst property related data remains poor.
  • This week the key data will be 1-year and 5-year Loan Prime Rates with no change expected. 
  • China will likely raise its deficit ratio next year to above 3% of its gross domestic product after Finance Minister Lan Fo’an pledged to implement more “forceful” fiscal policies, China Securities Journal reported Monday (source:  BBG)
  • China’s key stock markets had a challenging week with the CSI300 down -3.29%, the Hang Seng down -6.2%, Shanghai Comp down -3.5% and Shenzhen down 4%.  Markets are opening positive for the week all up over 1% except Shenzhen which is down -0.2%.
  • CNY :  finished the week 0.63% weaker at 7.2294 and has traded higher again.
  • Bonds continue to be resilient with the China 10-year yield barely moving over the week to finish 2.086% and has climbed 1bp higher in today’s trading.