Greater China

CNY swaps have been offered on easing liquidity concerns and bets ahead of key data. Sources say weak inflation figures later in the week could flatten the 1s/5s curve slope. Meanwhile, BNS issued a 2-year dim sum bond, writes Deirdre Yeung of Total Derivatives.

An executive director who quit the loans syndicate and distribution team of Standard Chartered in April, has joined UBS.

While opinions range on how appropriate it will be for MSCI to go ahead with the inclusion of A-shares into its global benchmarks, the index provider has been giving greater space to US-listed Chinese stocks. But despite the decision on A-shares being just over a week away, market participants are still weighing the pros and cons.

Tianjin Infrastructure Construction (TJII), China State Construction Engineering Corporation Limited and ICBC’s Dubai branch are out in the dollar bond market on Tuesday with their respective fundraisings.

China Renaissance has hired Yang Xia as managing director and global head of equities based in Hong Kong.

The successful distribution of a jumbo loan for ChemChina’s acquisition of Syngenta shows that Chinese banks have learned quickly from past mistakes. And as the trend of Chinese companies snapping up prized assets overseas intensifies, they will only get better at arranging large, complex deals.

ABC Financial Leasing has picked banks as it gets ready for a dollar appearance as early as next week.

China’s curb on capital outflows means the Panda bond market is yet to live up to the excitement generated by a series of high profile transactions last year. But György Barcza, CEO of the Hungary Government Debt Management Agency, is committed to pushing out a transaction even if the ability to repatriate proceeds offshore remains uncertain. Rev Hui reports.

The China Foreign Exchange Trade System (CFETS), managed by the People’s Bank of China (PBoC), signed a $65m agreement with FX and fixed income trading platform provider ICAP to develop the next generation of its core trading systems.

CNY swaps have been better offered across the curve today as corrective strength in the yuan supports the shorter maturities while Friday's weak US non-farm payrolls report is supporting the long-end. 1s/10s NDIRS is flatter on long-end outperformance. Data and holidays are to come later this week, writes Deirdre Yeung.

The Chinese securitization market’s growing comfort with auto ABS was on show last week when Dongfeng Nissan Auto Finance was able to double the amount it was able to raise compared to its most recent outing in 2015.

Biostime International Holdings and Xuzhou Economic and Technology Development Zone State-Owned Assets Management (Xuzhou ETDZ) are gearing up for what will be their first outings in the international bond market.