Swaps - CNY
In a surprise move on Monday the PBOC cut its 7-day reverse repo rate by 20bps and injected CNY50bn in liquidity into the money market.
Listing of Asia Pacific structures and vanilla bonds sold by offshore issuers.
Listing of structured bonds and vanilla bonds from offshore issuers in the Asia Pacific currencies over the past week.
Update on structured bonds and others issued by foreign borrowers in the Asian Pacific currencies over the past week.
The risk-on mode saw good amount of paying in 5-year NDIRS. Dealers believe further steepening in 1s/10s NDIRS.
The switch from EONIA to €STR discounting threatens to create big windfalls vs losses across EUR interest rate option desks.
The PBOC cut 1- and 5-year loan prime rates today, triggering thoughts about a better prospect and thus some paying in 5-year NDIRS.
Listing of Asia Pacific bond issues likely to create hedge requirements across rates markets.
The Chinese market re-opened today. The coronavirus outbreak has prompted panic selling of equities and sharp bull-flattening of the NDIRS curve.
China's liquidity add was widely expected but still provided support for global risk assets. Dollar spreads tightened as dealers await issuance.