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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.
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Free AccessFutures Rise For Second Day
The PBOC drained CNY 90bn of liquidity today, continuing to drain the pre-Golden Week liquidity injection. Repo rates are within recent ranges, the overnight rate down 6.19bps at 2.0881%, 7-day repo rate up 1.27bps at 2.1627%. Futures have risen again higher for a second day after sliding in October. Speculation is abound that an RRR cut could come as soon as October, as does chatter of an MLF injection, both theories have gathered weight by the latest USD/CNH fixing today where the PBOC indicated a preference for a weaker yuan. Futures have ignored PPI data that showed factory places rose at the fastest pace since 1995, and instead are supported by slightly slower CPI and an overnight move higher in US treasuries.
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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.