In open market operations ... nope, none ... People's Bank of China skips OMOs again today

  • No maturities today, so neutral OMOs for the day
  • Bank says liquidity is at a relatively high level
  • (For the week, a net drain of 330bn yuan, was a 280bn yuan drain last week)

In FX, another huge jump in the mid rate for the CNY against the USD

  • 10th straight days of PBOC setting a higher CNY
  • Strongest for the CNY at the reference rate setting since May of 2016

Stay tuned ...