CNY 5y Swaps Are Going to Be Received
Long term consolidation of CNY (USDCNY CURNCY) swaps expected since the beginning of 2017.The bounce which took place since June 2017 makes the...
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What's Behind the RMB Weakening?
On Friday last week, the PBOC ended the 20% reserve requirements for CNY forward trading. We said at the time that while mechanically, it would...
118 Views
USD Reprieve, but a Lot to Prove, NZD Facing Economic and Political Headwinds
USD had a reprieve so far this week after hitting new lows for the year last week. However, EM currencies, in particular, have held most of their...
104 Views
Re-Evaluating the RMB with FX Change
It was announced this weekend that the PBOC is ending the requirement that banks trading RMB forwards would need a 20% reserve. This has...
120 Views
China (Underweight): Equities Driven by Stimulus & Flows, Not Reform (Part 2 of 6)
Main Conclusions There is no immediate indication of an end to either of the twin flows into Chinese offshore equities, namely global investors...
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