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CHINA: China's 10YR Bond Future Down for Third Day. 

CHINA

 

  • China’s main bond futures headed in different directions at the start of the week.
  • China’s 10YR bond future is down -.18 at 108.075, marking the third trading day in a row of declines.
  • The move lower sees the 10YR future inching towards the 100-day EMA of 108.02, with the 50-day EMA being dragged lower at 108.61.
  • The 2YR bond future is up +0.05 today at 102.62, below all major technical levels.
  • Cash market is weaker today also with government bonds up to 1bp higher in yield across most maturities.
  • Equity markets too are down today with key bourses down by -0.10% to -0.50%
  • This week sees the decision on the 1-year Medium Term Lending Facilities with market expectations for now change at 2.00%, but with an increase in volume from CNY200bn to 300bn
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  • China’s main bond futures headed in different directions at the start of the week.
  • China’s 10YR bond future is down -.18 at 108.075, marking the third trading day in a row of declines.
  • The move lower sees the 10YR future inching towards the 100-day EMA of 108.02, with the 50-day EMA being dragged lower at 108.61.
  • The 2YR bond future is up +0.05 today at 102.62, below all major technical levels.
  • Cash market is weaker today also with government bonds up to 1bp higher in yield across most maturities.
  • Equity markets too are down today with key bourses down by -0.10% to -0.50%
  • This week sees the decision on the 1-year Medium Term Lending Facilities with market expectations for now change at 2.00%, but with an increase in volume from CNY200bn to 300bn