Chinese Yuan (CNY)
USD Swaps: Steeper from the long end; China and intervent...
USTs remain steeper from the long end even as risky assets edge down from session highs. Banks look at PBOC FX policy. EIB plans a new USD 5y Global.
CNY Swaps: 1s/5s NDIRS seen steeper; Trade data eyed
Recent uptrend in 5y NDIRS has triggered thoughts about a steepener trade. However, next week's trade data will be the key to near-term direction.