Canadian homebuilding activity remains stable and in-line with fundamentals
Mar 09, 2015 14:21 pm UTC| Commentary
Canadian housing starts fell sharply to 156,300 annualized units in February, well below expectations and down from 187,000 in the prior month (revised down very slightly).Declines were broad based across much of the...
CNH liquidity to stay tight near term
Mar 09, 2015 13:05 pm UTC| Commentary
CNH rates have hovered around historically high levels in recent weeks, and showed little signs of easing after the PBoCs 25bps policy rate cut on 28 February.Liquidity tightness in the CNH market is expected to persist in...
China’s commodity import data still distorted by holidays
Mar 09, 2015 12:58 pm UTC| Commentary
Chinas commodity import volumes fell in February but this was hardly surprising given the long midmonth holiday.Chinas total import bill fell by 20.5% y/y in February, after a similar 19.7% decline in January, mainly due...
China's local government takes on debt restructuring plan
Mar 09, 2015 12:46 pm UTC| Commentary
The Finance Minister Lou Jiweis press conference at the National Peoples Congress meeting provided important clues on how the stock of local government debt will be restructured.One element of the plan under consideration...
Turkish central bank takes action to prop up the lira
Mar 09, 2015 12:44 pm UTC| Commentary
This morning the Turkish central bank (TCMB) cut rates on foreign currency deposits. The bank cut its 1-week deposit rate on USD-deposits to 4.5% from 7.5% and to 2.5% from 6.5% on EUR-deposits.The TCMB cited the global...
Hard-currency bonds dominate EM bond inflows
Mar 09, 2015 12:43 pm UTC| Commentary
Inflows into dedicated EM bond funds were again strong in the week ending 4 March, with now close to USD 3.0bn flowing into EM bond bunds in the last five weeks.Total inflows in the week ending 4 March were USD 697mn,...
Cross-border payments and FX turnover- strong contributors to the RGI in January
Mar 09, 2015 12:33 pm UTC| Commentary
Renminbi-denominated cross-border SWIFT payments remained the top contributor to the RGI in January, accounting for 0.98ppt of the indexs 2.3% m/m rise. FX turnover was a close second.Standard Chartered notes as follows on...
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