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Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
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Credit
Credit
Real time insight of credit markets
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Data
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MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
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About Us
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessFutures Hit Contract High
The PBOC matched injections with maturities today, repo rates are higher but significantly lower than highs seen this week. The overnight repo rate up 3.2bps at 2.022%, this week's high at 2.20%, while the seven day repo rate is at 2.11% from highs of 2.25% earlier this week. Futures climbed from the open, playing catch up with some gains in UST's, while Chinese equity markets are also lower. The 10-year future is up 0.20 at 98.025, a fresh contract high.
- Elsewhere, China will continue its strong effort to cut capacities of high-polluting industries and strictly control high energy-consuming and high-emission projects, said Vice Premier Han Zheng on Tuesday during his tour at China Research Academy of Environmental Sciences. China must stay committed to realizing carbon neutrality with a clear timetable and roadmap and build a clean, low-carbon, safe and efficient energy system. MNI previously reported that the government may boost coal production to tame skyrocketing prices while controlling the domestic steel production to reach emission controls.
- Markets look ahead to LPR announcement tomorrow. Consensus is for no change, Citi's own estimate is in line with this: "Citi Economics believes though monetary policy tightening is ongoing, the PBoC will keep the policy rate – 1-year MLF rate unchanged this year. As it is referenced to the MLF rate, the one-year LPR will likely remain at 3.85% in May and the five-year LPR rate will likely remain at 4.65%." The highlight today is CNY 80bn of supply in 2- & 5-year bonds.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.