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Chinese 5-Year LPR Tweak Helps Wider Risk Appetite

US TSYS

Broader risk seems to benefitting from the 15bp cut in the latest PBoC 5-Year LPR fixing (which we have suggested is likely aimed at supporting the struggling Chinese housing market), allowing TYM2 to move to fresh session lows, -0-05+ at 119-17. Cash Tsys run 2-3bp cheaper across the cure, bear flattening.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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