Yuan Hibor Inversion May Develop Into January Repeat: Charts
Source: BFW (Bloomberg First Word)
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(Bloomberg) -- Offshore yuan 1-month Hibor surging above 3-month in a pattern that may replicate January, with funding pressure likely ahead of China holidays, Bloomberg strategist Mark Cranfield writes.
Alert: HALISTER1- 1-month Hibor exceeded 3-month by more than 500 bps in Jan., peaking above 15%; click here for chart
- Mid-Autumn festival is Sept. 15-17, National Day holiday is Oct. 1-7
- 1-month CNH Hibor +178 bps to 5.02%, highest since Feb.
- 3-month +95 bps to 4.21%, highest since March
- NOTE: Mark Cranfield is an FX strategist who writes for First Word. The observations he makes are his own and are not intended as investment advice.
Source: BFW (Bloomberg First Word)
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UUID: 7947283