CHINA: Central Bank Injects CNY124.3bn via OMO

• The PBOC issued CNY214.8bn of 7-day reverse repo at 1.4% during this morning's operations.
• Today's maturities CNY342.5bn
• Net liquidity withdrawal CNY127.7bn.
• The PBOC monitors and maintains liquidity in the interbank system through the issuance of reverse repo.
• The CFETS Pledged Repo Deposit Institutions 7 Day Weighted is at 1.41%, from prior close of 1.49%.
• The China overnight interbank repo rate is at 1.30%, from the prior close of 1.25%.
• The China 7-day interbank repo rate is at 1.45%, from the prior close of 1.50%.

In Tokyo morning trade, JGB futures are stronger and just below highs, +35 compared to overnight closing levels on Friday.

• Today, the local calendar will be empty, ahead of tomorrow's 40-year supply.
• Cash US tsys are slightly stronger in today’s Asia-Pac session after yesterday’s rally.
• Cash JGBs are 2bps lower to 3bps higher across benchmarks, with a steepening bias. The benchmark 40-year yield is 2.6bps higher at 3.397% versus the cycle high of 3.692%.
• (Bloomberg) -- Overseas investors ramped up purchases of Japanese government bonds last month, pushing their quarterly acquisitions of super-long tenors to a record, according to data released by the Japan Securities Dealers Association on Tuesday.
• (Bloomberg) -- Katsutoshi Inadome, a senior strategist at Sumitomo Mitsui Trust Asset Management, said "Concerns over fiscal expansion continue to simmer in the market, and in light of the election results, JGBs could come under selling pressure".
• Swaps have bull-flattened, with rates 2-3bps lower. Swap spreads are tighter.

• CHINA PBOC CONDUCTS CNY214.8 BLN VIA 7-DAY REVERSE REPO TUES