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$8B Debt Issuance to Price, $3B Egypt 3Pt Leads


Sharp Retracement


NY Fed Weekly Economic Index (WEI)

     BEIJING (MNI) - The People's Bank of China skipped its open-market
operations on Monday, saying that the current level of liquidity conditions is
relatively high and can absorb the impact of maturing reverse repos.
     This resulted in a net drain of CNY160 billion for the day, as a total of
CNY160 billion in reverse repos mature on Monday. 
     A total of CNY690 billion in reverse repos mature this week.
     The CFETS-ICAP money-market sentiment index ended at 30 on Friday, down
from 34 at Thursday's close. The lower the reading the better the liquidity
conditions in the interbank market.
     The benchmark seven-day repo average was last at 2.6587%, compared with
2.7387% on Friday.
--MNI Beijing Bureau; +86 10 85325998; email:
--MNI Beijing Bureau; +86 (10) 8532-5998; email: