- G10 Markets
- Fixed Income
- Foreign Exchange
- Emerging Markets
- MNI Research
- Global Macro
- Political Risk
- About Us
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
- G10 Markets
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
Real-time insight of oil & gas markets
Reporting on key macro data at the time of release.
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
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 Access
Rising Tide Lifts All Boats In China
- INDIA: Yields lower in early trade, even amid general risk on sentiment in the region which has boosted oil prices. Bonds are expected to come under pressure as the session goes on. Markets will look out for an announcement from the RBI about bond purchases next week, with hopes that more illiquid issues will be eligible again. Risk on sentiment should also be supported by lower case numbers in India. There were 43,654 cases yesterday, down from a peak of over 400k in May. Health officials said late yesterday India will meet its target of supplying more than half a billion COVID-19 vaccine doses to states by the end of this month
- SOUTH KOREA: Futures lower on Thursday as risk assets rebound in South Korea thanks to a generally more benign risk tone and a dip in coronavirus case numbers. 10-Year futures have been grinding lower throughout the session after finishing at highs yesterday. Short end US-South Korea spreads are slightly wider after the FOMC decision. US-SK 2-Year spread at 113.82bps from lows of 119.625bps hit earlier in July. Following the FOMC decision yesterday Vice Fin Min Lee said that the announcement was expected to have little impact on local markets and added that the government was closely watching the virus trend and its impact on markets as well as other instability factors. Positive risk sentiment has been boosted by earnings including Samsung who reported earnings earlier.
- CHINA: The PBOC injected a net CNY 20bn of liquidity into the financial system today, the first injection since the end of June. Repo rates have fallen as a result, the overnight repo rate at 1.6329% from highs above 2.10% yesterday, the 7-day repo rate down 26bps on the day at 2.2373% but still above the PBOC's rate. The moves comes after a rout of Chinese assets and several other attempts by officials to stem the wave of selling including soothing articles in state media and the CSRC meeting with banks. Risk sentiment has rebounded in China with equity markets seeing gains, a rising tide lifts all boats and Chinese bond futures are also higher.
- INDONESIA: Yields mixed with the curve twist flattening. Although Indonesia's daily Covid-19 cases eased further, the death toll continues to climb. The local press flagged concerns surrounding Indonesia's reporting and counting methods, with Jakarta Post noting that "the government [does not include] deaths outside of healthcare facilities in its daily official tally". Markets still digesting the move by the IMF to downgrade its 2021 growth forecast for Indonesia to +3.9% Y/Y from +4.3% projected in April, as the spread of the Delta variant is expected to weigh on economic recovery.
Sign up now for free access to this content.
Please enter your details below and select your areas of interest.
Why Subscribe to
MNI is the leading providerof 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.