The seven-day deposit reverse repo average across China's interbank market was at 1.9267% on Friday, lower than the close of 2.0401% on Thursday, according to Wind Information. The overnight deposit reverse repo average was last at 1.8674%, lower than the previous 1.9004%.
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ACGBs (YM -11.0 & XM -10.5) are sharply lower and at/or Sydney session lows. Today’s move brings the sell-off over the past 24 hours to around 15-20bps.