MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Japan Nov CGPI Rises 3.7% Y/Y, Import Prices Drop

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

PBOC Drains Liquidity From System

ASIA RATES
  • INDIA: Yields lower in early trade. Bonds fell yesterday and could come under further pressure today after a report that the government will start selling more debt maturing in less than seven years from July to compensate states for the Goods and Services Tax shortfall. NewsRise ran a report citing a government official that India will selling additional debt from July to raise INR 1.58tn due to a shortfall in GST. Finance Minister Sitharaman had earlier said the central government will borrow 1.58t rupees on behalf of states to compensate for a revenue shortfall.
  • SOUTH KOREA: Futures are higher in South Korea. Data was positive, but coronavirus concerns have sapped risk sentiment in South Korea. There were 762 new cases in the past 24 hours, down slightly from Wednesday but still above the important 600 threshold and holding near a two month high. Due to the concentration of cases in the greater Seoul area, the health authorities decided to tighten restrictions in the capital area for two weeks till July 14. The local authorities also announced later in the day the greater Seoul area will hold off on implementing the central government's eased social distancing scheme for one week, just hours before the new rules were set to take effect. If virus cases continue to increase, the social distancing level will be raised across the country.
  • CHINA: The PBOC drained a net CNY 20bn of liquidity from the system via OMO's today, comes after drip feeding CNY 100bn of liquidity into the market in the five sessions to the end of June. Repo rates are lower today, the 7-day repo rate pulling back from multi-month highs to sit at 2.20% - in line with the PBOC's prevailing rate.
  • INDONESIA: Yields mixed, some mild flattening on the curve. Indonesian officials have finalised strict mobility curbs for Java and Bali amid a surge in new Covid-19 infections. The restrictions will take effect Friday through Jul 20. Pres Widodo has resisted calls for a hard nationwide lockdown, fearing its economic consequences. Data showed CPI rose 1.33% Y/Y in June, slower than the May print and below estimates of 1.45%, Core CPI was above estimates at 1.49%. Elsewhere Indonesia's Markit M'fing PMI eased to 53.5 from 55.3, noting that despite the current wave of Covid-19 " both production and sales growth remained at strong levels and it would be important to see the pandemic situation come under control soon so as not to further affect the performance of manufacturing firms"
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.