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CHINA: Country Wrap: Prime Rates on Hold Again. (AMENDED)

CHINA
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  • China held prime rates steady at 2.00% for the 1-Year Medium Term Lending facility.  The PBOC conducted CNY300bn of 1-year medium term lending.  Maturities under the facility were CNY200bn.  Outstanding under the Medium Term Lending Facility at CNY4.09tn with a further CNY500bn to mature in February. (source: MNI – Market News)
  • Chinese President Xi Jinping said on Monday that history and reality show that China and Russia are good neighbours that cannot be moved away, and true friends who share weal and woe, support each other and achieve common development.(source: XINHUA)
  • China’s major equity bourses are all lower today with the Hang Seng down -0.57%, CSI 300 down -0.52%, Shanghai down -0.20%, Shenzhen flat.
  • CNY: USD/CNY fix printed at 7.1726, versus a BBG market consensus of 7.2530.
  • Bonds: despite the rise in bond futures gaining pace, CGB’s were muted with the 10YR at 1.79% (-0.5bp)
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  • China held prime rates steady at 2.00% for the 1-Year Medium Term Lending facility.  The PBOC conducted CNY300bn of 1-year medium term lending.  Maturities under the facility were CNY200bn.  Outstanding under the Medium Term Lending Facility at CNY4.09tn with a further CNY500bn to mature in February. (source: MNI – Market News)
  • Chinese President Xi Jinping said on Monday that history and reality show that China and Russia are good neighbours that cannot be moved away, and true friends who share weal and woe, support each other and achieve common development.(source: XINHUA)
  • China’s major equity bourses are all lower today with the Hang Seng down -0.57%, CSI 300 down -0.52%, Shanghai down -0.20%, Shenzhen flat.
  • CNY: USD/CNY fix printed at 7.1726, versus a BBG market consensus of 7.2530.
  • Bonds: despite the rise in bond futures gaining pace, CGB’s were muted with the 10YR at 1.79% (-0.5bp)