MNI CHINA LIQUIDITY INDEX: FUNDS.........>

CHINA DATA: MNI CHINA LIQUIDITY INDEX: FUNDS AMPLE, BUT TIGHTEN LATE MAY 

--MNI MAY CHINA LIQUIDITY CONDITIONS INDEX 30.0 VS 14.3 APR 

--CLS: MAY CURRENT PBOC POLICY BIAS INDEX 33.3% VS 32.1% APR 

--CLS: MAY CURRENT ECON CONDITION INDEX 73.3% VS 64.3% APR

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Liquidity remained loose across China's interbank market in the first 3 weeks of

May, before tightening into month-end as increased bond issuance and tax

payments drained funds, the latest MNI Liquidity Conditions Index shows. The

Liquidity Condition Index climbed to 30.0 in May, up from 14.3 in April and

higher for a third straight month, with just over half of respondents seeing

53.3% conditions looser over the month. The higher the index reading, the

tighter liquidity appears to survey participants. Traders MNI interviewed

mid-month certainly saw liquidity as looser than interviews recorded later in

the survey period.