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OPTIONS

Larger Option Pipeline

FED

NY Fed Operational Purchase

US 10YR FUTURE TECHS

‌‌(M1)‌‌ Eyeing Key Support

GILT SUMMARY

Curve Flattening Into Weekend

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The People's Bank of China (PBOC) injected CNY2 billion via 7-day reverse repos with the rate unchanged on Monday. This resulted in a net drain of CNY240.5 billion given the maturity of CNY2 billion of reverse repos and CNY240.5 billion of Targeted Medium-term Lending Facilities (TMLFs) today, according to Wind Information.

  • The operation aims to maintain the liquidity in the banking system at a reasonable and ample level, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) decreased to 2.2086% at 09:36 am local time from 2.3504% at Friday's close.
  • The CFETS-NEX money-market sentiment index closed at 37 on Friday vs 44 on Thursday. A lower index indicates decreased market expectations for tighter liquidity.