Total Derivatives: PBoC guidance awaited as swap curve remains steep

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Total Derivatives: PBoC guidance awaited as swap curve remains steep

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There has been rising demand for short-dated non-deliverable interest rate swaps (NDIRS) in the renminbi market after the People’s Bank of China adjusted the fixing lower and market participants braced themselves for a key resistance level, writes Deirdre Yeung of Total Derivatives.

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