Total Derivatives: PBoC support anchors short CNY rates

GlobalCapital

July 26, 2016 08:45 am

pboc 230px. — People walk past the China's central bank or People's Bank of China in Beijing Tuesday, Aug. 11, 2015. China devalued its tightly controlled currency on Tuesday following a slump in trade, triggering the yuan's biggest one-day decline in a decade. (AP Photo/Andy Wong) | Andy Wong/AP/Press Association Images

The short-end of the CNY NDIRS curve is continuing to outperform the longer maturities as the PBoC keeps the financial system liquid ahead of month-end. Sources are wary ahead of this week's FOMC and BOJ announcements but say firmer domestic data could back more steepening momentum near-term, writes Deirdre Yeung of Total Derivatives.

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Topics

Derivatives Asia Derivs - Interest Rate China China Emerging Markets

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