In open market operation the PBOC injects 70bn yuan via 7-day reverse repos
- and injects
15bn45bn yuan via 14-day reverse repos
2 weeks ago the bank started using 14-day reverse repos ... today they have started to assess demand for 28 day reverse repos as well
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CFETS RMB index (the value of the yuan against its basket) fell to 94.04 on Friday
- From the prior week's 94.53
Continuing the devaluations of the yuan, not just against the USD
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Meanwhile, Japanese 30 & 40 year JGB yields have hit their highest levels since the middle of March