Free Trial

Futures Resume Rise

  • The PBOC matched maturities with injections today, repo rates are lower today and moving back into more comfortable ranges while the 7-day repo rate has moved back above the overnight repo rate after briefly inverting earlier this week. Futures are higher today, resuming their recent rally after dropping for the past two sessions. 10-Year future makes a new contract high at 99.745 as stocks drop into negative territory and snap a four-day winning streak.
  • Elsewhere, guidelines published by the central government late yesterday show plans to promote the advanced manufacturing sector and "appropriately increase" local government bond quotas in central provinces.
  • Corporate bond spreads narrowed after Bloomberg reported that Evergrande was considering a unit listing which helped take pressure of its issues and soothed the market somewhat. Concerns around the firm's financial position abound though after officials said they would tighten funding control.

To read the full story


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.