MNI on a piece in the Securities Times

  • PBOC & the China Foreign Exchange Trade System are studying credit default swaps for the interbank bond market
  • Credit derivatives don't provide sufficient protection for creditors,

Securities Times quoting unnamed industry sources

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Meanwhile, a rapid dip for USD/JPY (& yen crosses).

Back toward levels (not there yet) where the BOJ jumped on the phones overnight (apparently) ...

  • USDJPY pops a quick ton from 110.65 - BOJ rumours flying around
  • BOJ asking market players about cause of USD/JPY moves, not checking rates - RTRS

No sign of them today.