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(H2) Remains Below Recent Highs


(H2) Fading End-2021 Strength


Coming up in the Asia-Pac session on Tuesday:


Corrective Bounce

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The People's Bank of China (PBOC) injected CNY100 billion via 7-day reverse repos with the rates unchanged at 2.2% on Monday. The operation has led to a net drain of CNY20 billion after offsetting the maturity of CNY50 billion reverse repos and CNY70 billion of Treasury's cash deposits at commercial banks today, according to Wind Information.

  • The operation aims to keep liquidity reasonable and ample, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) fell to 2.2227% at 09:40 am local time from the close of 2.2600% on Friday.
  • The CFETS-NEX money-market sentiment index closed at 45 on Friday, flat from the close on Thursday.