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Chinese interest rate swaps have plunged to...>

CHINA
CHINA: Chinese interest rate swaps have plunged to new cycle lows today, with
the 2-year trading at just 2.66%, 20bps inside the US. 
- Rates are completely decoupling from stocks , with both A-shares and H-shares
mounting a strong rebound, rallying above yesterday's highs in most cases. Some
interesting bullish divergences should be noted across Chinese stocks this week,
with the HSCEI and the CSI 300 failing to hit new lows in contrast to the
Shanghai Composite and HSI.
-USDCNH has also given back some of yesterday's gains, currently trading at
6.8555, and could be in the process of establishing a lower high, which would be
a rare bearish event for the pair. 

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