Total Derivatives: PBoC backs offers; CNY 1y may correct up
The latest targeted easing move by the People's Bank of China (PBoC) has helped to ease liquidity conditions. This lowered the repo fixing on Monday and backed good receiving in CNY swaps. At current levels, though, an upward correction in short-end rates is considered likely in the near-term, writes Deirdre Yeung of Total Derivatives.
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