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KOREA RATES

BoK To Reduce 2-Year MSB Issuance

JGBS

A Muted Morning

CHINA RATES

China Repo Rates Fall on Tuesday

AUSSIE SWAPS

RBC: Receive 1Y1Y Vs. U.S.

NEW ZEALAND

The latest NZIER Quarterly Survey of Business Opinion (QSBO) shows business confidence has improved, reflecting a pick-up in demand over the September quarter. A net 1 percent of businesses reported an increase in own trading activity – a turnaround from the net 37 percent reporting a decline in the previous quarter. This result supports our expectations of a V-shaped recovery in economic activity, as the New Zealand economy responds to the unprecedented amount of stimulus measures implemented by the Government and Reserve Bank. Nonetheless, businesses on the whole are still feeling downbeat, but this pessimism is reducing with a net 39 percent of businesses expecting a deterioration in general economic conditions over the coming months – lower than the 58 percent in the previous quarter.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com