Free Trial
USDCAD TECHS

Impulsive Rally Extends

US TSYS

Late Eurodollar/SOFR/Treasury Option Roundup

EURJPY TECHS

Price Is Below The 50-Day EMA

US

Late Corporate Credit Update

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: China M2 Nears 6-Yr High; Aggregate Finance Doubles

MNI (Singapore)

China's M2 money supply growth rate rises at the fastest pace since Nov 2016, central bank data shows.

True

China's M2 money supply growth quickened to 11.4% y/y in June from 11.1% in May, outpacing the 11.0% forecast by market analysts It was the fastest rate of growth since November 2016, data released by the People's Bank of China on Monday showed. Among other key metrics, M1 growth rose by 5.8%, accelerating from the previous 4.6%.

New loans rebounded more than expected to CNY2.81 trillion, up from May's CNY1.89 billion, hitting a three-month high. Aggregate financing, also higher than the expected level, almost doubled to CNY5.17 trillion from the previous CNY2.79 trillion, hitting a five-month high. On an annual basis, outstanding total social finance grew by 10.8%, compared with 10.5% last month.

Keep reading...Show less
136 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

China's M2 money supply growth quickened to 11.4% y/y in June from 11.1% in May, outpacing the 11.0% forecast by market analysts It was the fastest rate of growth since November 2016, data released by the People's Bank of China on Monday showed. Among other key metrics, M1 growth rose by 5.8%, accelerating from the previous 4.6%.

New loans rebounded more than expected to CNY2.81 trillion, up from May's CNY1.89 billion, hitting a three-month high. Aggregate financing, also higher than the expected level, almost doubled to CNY5.17 trillion from the previous CNY2.79 trillion, hitting a five-month high. On an annual basis, outstanding total social finance grew by 10.8%, compared with 10.5% last month.

Keep reading...Show less