In open market operation the PBOC injects 70bn yuan via 7-day reverse repos

  • and injects 15bn 45bn 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