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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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The PBOC matched maturities with injections today after draining CNY 40bn yesterday. The last time the PBOC injected liquidity into the system was Feb. 25. The overnight repo rate fell 27bps to 1.7888%, the seven-day repo rate fell 1.9746%. Futures are higher again for the third session (including a gap for the Labor Day break). 10-year future has now risen some 55 ticks from lows on April 29 and is at the highest since late January at 98.115. Elsewhere, Huarong has said it has transferred the funds needed to fulfil five offshore bond coupons due today. Corporate bond spreads have widened though as yields in government securities decline.