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The People's Bank of China (PBOC).......>

CHINA RATES
CHINA RATES: The People's Bank of China (PBOC) skipped open market operations
(OMOs) for a fourth day Thursday, resulting in a net drain of CNY250 billion.
This comes after the conducted a CNY257.5 billion one-year Targeted Medium-term
Lending Facility(TMLF) yesterday, the first time the tool has been used. 
- The facility is aimed at banks that meet regulatory requirements and have
potential to increase credit supply to smaller companies, and is seen as a light
form of easing. 
- Fixed income markets are trading broadly flat across the board with the 2 year
needing a break above the 2.6% level to suggest an upside break. 

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