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Core FI Nudging Higher

BONDS

Hard to determine an outright trigger for the uptick witnessed in core FI markets. It could be owing to the circulation of a piece doing the rounds in Chinese state media which points to steady liquidity conditions via the matching of CNY1tn of maturing PBoC MLF operations due later this month. Note that most of the sell-side looked for the totality of the maturing operations to be rolled over at tomorrow's mid-month MLF operation, but there hasn't been much else out there to really drive the aforementioned uptick for the space.

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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