Friday, May 14, 2010

Chinese capital inflows accelerated in April, Failed Auction for Treasury Bills in China $caf

· Chinese capital inflows accelerated in April, with foreign direct investment up 24.7% from a year earlier to $7.35 billion (WSJ) 

· China FX reserves - China has said its FX reserves rose $47.9B in Q1, but the increase could have been $95.9B had it not been for the strong dollar, which cut the value of its reserves not denominated in US$ - CNBC

· China – Failed to draw enough bids for a Treasury bill sale today for the 2nd time in a month. Finance ministry sold Yuan17.4B of the Y20B offered at a yield of 1.72% (vs. prev. yield 1.54%). Bloomberg

· China shares today fell in part b/c of speculation of a weekend rate hike; note that trades have been talking about China taking action (either yuan adjustment, rate hike, etc) ahead of the Strategic Dialoge talks w/the US (due to take place May 25-26).  AP 

· China – May expand settlement on int’l trade using yuan to meet rising demand from companies, two bankers involved in the program told Bloomberg.

· China – The National Development and Reform Commission said China is facing an “extremely complicated” economic situation this yr and needs to focus more on increasing private investment. Bloomberg

No comments:

Post a Comment