Trial now

Schatz call fly buyer


Implied Vol Under Pressure


Bearish 1- and 3Y Midcurve Plays


Outright put buyer

     BEIJING (MNI) - The following are highlights from the Chinese press for
Tuesday, January 23: 
     China's central bank will conduct its open market operations (OMO) at a
proper and steady pace to stabilize liquidity in the interbank market amid
rising needs for cash in the oncoming Chinese New Year holiday, Financial News
reported citing market sources and analysts. 
 - Corporate tax payment season has passed;
 - Planned targeted reduction in reserve requirement ratio and contingent
reserve arrangement programs will boost liquidity, News said. 
***COMMENT: PBOC is improving communication via regular OMO to smoothen market
expectation and maintain steadiness. 
     Chinese banks have seen deposits slowing, while loans continue to increase,
the 21st Century Business Herald reported.
 - Deposits at by non-banking financial institutions sharply declined last year
following stricter regulations on interbank transactions and the appeal of the
wealth management products;
 - Mortgage loan growth slowed on property purchase curbs;
 - Corporate loan increased on robust economy. 
***COMMENT: PBOC is expected to hikes deposit rates to encourage household
saving, leaving lending rates unchanged to help boost growth.
     China's housing sales will likely decline in 2018 while price may gain
slightly, the Economic Information Daily reported, citing Ouyang Jie, vice
president of Future Land Corporation. Gov't curbs on the property sector will
likely remain for the next five years, so the restrictions on obtaining
mortgages, property purchases and price gains will continue, the newspaper said.
***Comment: China's property market will continue to be under administrative
heavy-handedness with restricted capital discouraging purchases and investments.
--MNI Beijing Bureau; +86 (10) 8532 5998; email:
--MNI Beijing Bureau; +86 10 8532 5998; email:
[TOPICS: M$A$$$,M$Q$$$,MBQ$$$]