-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Global Macro Weekly -
About Us
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of 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.
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 AccessTrending Top 5
Market News Topics
July 02, 2021 04:40 GMT
PBOC Drains For Second Day; Indian Auctions Eyed
ASIA RATES
- INDIA: Yields higher in early trade, bonds under pressure due to some auction concession and disappointment that the RBI did not announce any purchase operations for next week. Markets await the results of an INR 320bn bond sale later in the session. There is a chance that the sale could be left to primary dealers; last time out the auction of the 5.63% 2026 bond had INR 28bn devolved to primary dealers, while last week's sale saw the RBI devolve the whole INR 140bn 5.85% 2030 bond sale on primary dealers. Meanwhile the RBI did announce plans to hold an INR 2tn 14-day reverse repo operation today.
- SOUTH KOREA: Futures are higher but off best levels, risk sentiment is mixed in Asia and South Korean equity markets are struggling to make gains. There is some concern over elevated coronavirus figures, with loosening of lockdown measures facing further delays. Markets have looked through inflation figures which were above the BoK's target again. The pace of gains in consumer prices did slow though which supports comments made by the Central Bank that inflation would overshoot in the short term and then pull back with the Bank now forecasting 1.8% for the year.
- CHINA: The PBOC drained CNY 20bn of liquidity from the system via OMOs again today, the second day in a row. The central bank has now removed CNY 40bn of the CNY 100bn injection in the five days up to month-end. The PBOC has maintained the refrain that open market transactions are aimed at keeping the country's liquidity "adequate at a reasonable level." After jumping earlier this week repo rates have declined to normal levels; overnight repo rate down 4.5bps at 1.605%, 7-day repo rate down 14bps to 1.86% after touching 3.60% earlier this week. Futures in China are higher with equity markets coming under heavy selling pressure.
- INDONESIA: Yields higher across the curve, some bear flattening seen. Indonesia unveiled a slew of new restrictions for Java and Bali, which will take effect for two weeks starting tomorrow (i.e. Jul 3 - 20). All non-essential workers have been told to work from home, while most essential sectors will operate at 50% capacity. The reopening of Bali to foreign visitors will be delayed, while all large social gathering will be banned. Elsewhere, Health Min Sadikin pledged to expand the vaccination campaign and increase hospital bed capacity, with bed occupancy rate topping 90% in Jakarta, Banten or West Java.
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok