- G10 Markets
- Fixed Income
- Foreign Exchange
- Emerging Markets
- MNI Research
- Global Macro
- Political Risk
- About Us
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.LATEST FROM POLICY:
- G10 MarketsG10 Markets
Real-time insight on key fixed income and fx markets.Launch MNI PodcastsFixed Income FI Market AnalysisCentral Bank PreviewsFI PiEurozone/UK Bond Auction CalendarEurozone/UK T-bill Auction CalendarUS Treasury Auction Calendar US$ Credit Supply Pipeline Fixed Income Technical Analysis EGB Issuance, Redemption and Cash Flow Matrix Gilt Week Ahead
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
Real-time insight of oil & gas markets
Reporting on key macro data at the time of release.LATEST FROM DATA:
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.Global Macro Central Bank PreviewsCentral Bank ReviewsBalance Sheet AnalysisInflation InsightGlobal IssuanceEurozoneUKUSOverviewGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction Calendar
- About Us
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 DATA FORECASTS: EZ Inflation, US Payrolls In Focus
MNI China Daily Summary: Tuesday, March 28
LIQUIDITY: The People's Bank of China (PBOC) conducted CNY278 billion of operations via 7-day reverse repos, with the rates unchanged at 2.00%. The operation led to a net injection of CNY96 billion after offsetting the maturity of CNY182 billion reverse repos today, according to Wind Information. The operation aims to keep banking system liquidity stable at the end of the quarter, the PBOC said on its website.
RATES: The seven-day weighted average interbank repo rate for depository institutions (DR007) decreased to 1.9933% from 2.0561% on Monday, Wind Information showed. The overnight repo average rose to 1.0788% from the previous 1.0092%.
YUAN: The currency weakened to 6.8845 against the dollar from 6.8820 on Monday. The PBOC set the dollar-yuan central parity rate higher at 6.8749, compared with 6.8714 set on Monday.
BONDS: The yield on 10-year China Government Bond was last at 2.8800%, unchanged from Monday's close of 2.8800%, according to Wind Information.
STOCKS: The Shanghai Composite Index was down 0.19% to 3,245.38, while the CSI300 index decreased 0.32% to 3,999.51. The Hang Seng Index edged up 1.11% to 19,784.65.
FROM THE PRESS: China's banks face tighter margins in the near term as the government's focus on high quality development means lenders cannot rely on fast GDP growth to sustain their business, China Merchants Bank chairman Miao Jianmin told a conference. Miao said the slower economy and turmoil in the real estate market were challenges for banks. Declines in the loan prime rate last year pressured new and existing loans and squeezed margins. Banks need to find new growth channels such as overseas transactions on credit cards, which should grow strongly as outbound tourism recovers, Miao said. (Source: Yicai)
China will align with international trade rules to create a world class business environment, according to China's Premier Li Qiang. Li told foreign business leaders at the China Development Forum that all parties must promote the recovery of the world economy and China will continue integrating with the global economy, regardless of the international economic landscape. The world economic outlook is difficult and complex – authorities must first strengthen confidence and stabilise expectations, Li said. (Source: 21st Century Herald).
China's nationalist newspaper the Global Times has called on the country's multinational companies to promote cooperation and resist economic decoupling with the west. The call follow's Apple CEO Tim Cook's "warm welcome" in Beijing Monday, which contrasted with Washington's reception of TikTok CEO Shou Zi Chew last week. U.S. lawmakers grilled Chew during a congressional hearing over the company's influence and its links to China. The Global Times said, with high inflation and banking failures causing turmoil internationally, China’s stability is positive for the international economy.
To read the full story
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Why Subscribe to
MNI is the leading providerof 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.