Swaps - CNY

CNY Swaps: Early 5y offers; 1s/5s NDIRS seen flatter

5y NDIRS saw receiving in earlier trading, as domestic data has missed expectations. 1s/5s NDIRS has steepened to a level that a correction is due.

CNY Bonds: CDB issues 3y Dim Sum

China Development Bank issued a RMB2.5bn 3-year Dim Sum Bond.

Basis: Yield grabbers drive supply as plumbers take over ...

Much like in Watergate, the basis market is being driven by plumbers, trying to find the right way to get the pipes gushing. GBP and EUR benefit.

CNY Swaps: 5y given; 1s/5s seen steeper

CNY NDIRS saw better receiving despite strong domestic data. Players are concerned and cautious about the upcoming US CPI data.

Basis: Cable on the march; LPR basis trade; Niche NOK rep...

While the deal of the week so far is the EIB’s $4bn, 3-year offering, the currency of this first full week back so far is GBP.

CNY Swaps: 1s/5s NDIRS steeper despite 5y offers

5-year NDIRS saw receiving despite a rebound in the repo rate. Price action at the front end has helped steepened 1s/5s NDIRS.

Asia-Pacific MTNs: Callables; Kangas; Equity-linked Urida...

Listing of structured bonds and vanilla bonds issued in the Asia Pacific markets over the past week.

Basis: Busy belly; KfW on CNH; SOFR-TONAR trades

EUR supply is at record levels but the basis market seems to be coming off highs after a hyper-active patch. KfW comments on rebounding CNH issuance.

Basis: Cross-border flows fade in vanilla sky

A strew of new issuance hit the screens today, but for the most part these were vanilla issues from borrowers quick to exploit higher rates.

CNY Swaps: Busy 5y flow as equities slump; 1s/10s flatter

The slump in Chinese equities has triggered busy flow in 5-year NDIRS. 1s/10s NDIRS is flatter ahead of the trade data.