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Trembling Hand said:
Yeah a 1000 lot sweep. :D

and this,
http://www.bloomberg.com/news/2014-...-speculation-central-bank-will-add-funds.html
Click to expand...

Thought about putting in a bid in the open but decided against it :eek:
I was under the impression it was well known already since the first article came out at 3am!


PBOC Adds Cash to Banks as Money Rates Jump Most in Seven Months
2014-01-20 16:01:00.2 GMT


By Bloomberg News
Jan. 21 (Bloomberg) -- China’s central bank pumped funds
into the financial system and expanded a lending facility to
include smaller banks as rising cash demand before the Lunar New
Year drove money-market rates up by the most in seven months.
The People’s Bank of China supplied money to the largest
commercial banks using its Standing Lending Facility and will
auction reverse-repurchase agreements today, it said yesterday
on an official microblog without giving details of the amounts
involved.
Small- and medium-sized banks in 10 regions will be able to
tap the SLF for loans of up to two weeks on a trial basis,
according to a statement published on the PBOC’s website. The
funds can be tapped when money rates breach certain thresholds,
a separate document showed. A 120 billion yuan ($19.8 billion)
quota has been set aside for the trial, according to two traders
familiar with the matter, who asked not to be identified as the
information is confidential.
“It’s a good move in terms of liquidity management,” said
Yao Wei, China economist at Societe Generale SA in Hong Kong.
The expansion of the PBOC’s lending facility will also make the
market “fairer” for smaller banks, she said.
The benchmark seven-day repurchase rate, a gauge of
interbank funding availability, jumped 153 basis points
yesterday to 6.32 percent, according to a daily fixing compiled
by the National Interbank Funding Center. That was the biggest
increase since June 20 and the highest level since Dec. 23. The
week-long Lunar New Year holiday starts Jan. 31 and is a period
in which cash gifts are made and families get together for
celebratory feasts.

Rate Thresholds

Smaller lenders can seek funding before the holiday via the
SLF trial when the seven-day repo rate exceeds 7 percent,
according to a document signed by the monetary authority’s
Guangzhou branch and obtained by Bloomberg News. Other
thresholds are for the overnight repo rate to breach 5 percent
and the 14-day to climb above 8 percent. Local branches of the
PBOC will supply cash at those rates, the document said.
The overnight repo rate increased 93 basis points, or 0.93
percentage point, to 3.78 percent yesterday and the 14-day rate
dropped 47 basis points to 5.53 percent, separate fixings show.
China’s interest-rate swaps extended declines late
yesterday after details of the central bank’s measures were
reported. A one-year contract that exchanges fixed payments for
the floating seven-day repo rate, fell 13 basis points to 5.02
percent in Shanghai, according to data compiled by Bloomberg.

Beijing, Shenzhen

The PBOC will conduct the SLF trials in the cities of
Beijing and Shenzhen, as well as Jiangsu, Shandong, Guangdong,
Hebei, Shanxi, Zhejiang, Jilin and Henan provinces, according to
the statement on its website.
“It’s correct to target the smaller banks as they are the
ones that always face cash shortages before the Lunar New
Year,” said Tse Kwok Leung, the Hong Kong-based head of policy
and economic research at Bank of China (Hong Kong) Ltd. “That
is helping ease market concerns over liquidity and hence the
swaps decline. The facility is more effective than injections
via reverse repos, which usually guide funds toward the major
banks.”
The PBOC gauged demand yesterday for 21-day reverse repos
at auctions to be held this week, as well as its regular
offering of seven- and 14-day agreements, said two traders at
primary dealers who bid at the auctions. It also assessed demand
for 28-day repurchase contracts and 91-day bills, they said.

For Related News and Information:
China’s Economy Grew 7.7% in Fourth Quarter, Topping Estimates
NSN MZOFY96KLVRD <GO>
Cash Crunch Seen Complicated as Money Funds Double: China Credit
NSN MZJL6Q6S973J <GO>
China Money Rate Surges on Cash Demand Amid Trust-Product Risks
NSN MZJHEQ6K50YP <GO>
China bond stories: TNI CHINA BON <GO>
PBOC OMO amount: PBOCNET <INDEX> HCP W <GO>
China money-market rates: BTMM CH <GO>
China’s government auction calendar: ECO20 CHINA <GO>

--Helen Sun, with assistance from Fion Li in Hong Kong and Xin
Zhou in Beijing. Editors: James Regan, John Liu

To contact Bloomberg News staff for this story:
Helen Sun in Shanghai at +86-21-6104-3029 or
hsun30@bloomberg.net

To contact the editor responsible for this story:
James Regan at +852-2977-6620 or
jregan19@bloomberg.net
Click to expand...
 
After 22 trips i think i had enough:

Grand total profit:
profit.jpg
 
F&*%ing hard day today in the bonds and I finally do something right for a change and my system crashes and I still don't make any money asfjkasdhlfkjashdfljkasd
 
kid hustlr said:
F&*%ing hard day today in the bonds and I finally do something right for a change and my system crashes and I still don't make any money asfjkasdhlfkjashdfljkasd
Click to expand...

What do you actually do with the bonds? Trade the curve or outright on the 10s? You hold more than one day? Surprised you can stay awake long enough to see them move that much, I do like the idea of trading them though, just got SFA about how to go about it.
 
ThingyMajiggy said:
What do you actually do with the bonds? Trade the curve or outright on the 10s? You hold more than one day? Surprised you can stay awake long enough to see them move that much, I do like the idea of trading them though, just got SFA about how to go about it.
Click to expand...

Bit of everything but mainly just (try) to job around the curve.
 
kid hustlr said:
Bit of everything but mainly just (try) to job around the curve.
Click to expand...

Which means what? Position yourself for a trade that lasts a week based on a curve view, or just day trade when things may get out of whack on the opens or something? Having much success? With how little they move I'm surprised the bond guys don't go back to the SPI and "job" around on that?
 
ThingyMajiggy said:
Which means what? Position yourself for a trade that lasts a week based on a curve view, or just day trade when things may get out of whack on the opens or something? Having much success? With how little they move I'm surprised the bond guys don't go back to the SPI and "job" around on that?
Click to expand...

the XT can get going at times.

Mate to be honest I don't even know what the f&*% I do. Generally I just look at the curve market then look at the 3's and 10's and see if I can somehow make money.
 
Can anyone tell me why markets often do this on the open? Like the seng just now, opens, pushes lower to some random no support area then just goes beserk and shoots up to close the gap, anyone got any theories to why and how it does that, and why turn at THAT point? Makes it a bitch to try and pick the bottom, was expecting this to happen but just turned lower than I thought, or later should I say, chop chop chop nom nom mince screaming puke....then turns :banghead:

HSIWHY.PNG
 
ThingyMajiggy said:
Can anyone tell me why markets often do this on the open? Like the seng just now, opens, pushes lower to some random no support area then just goes beserk and shoots up to close the gap, anyone got any theories to why and how it does that, and why turn at THAT point? Makes it a bitch to try and pick the bottom, was expecting this to happen but just turned lower than I thought, or later should I say, chop chop chop nom nom mince screaming puke....then turns :banghead:

View attachment 56449
Click to expand...

Yeah its the magic Bol Band man!

Magic.gif
 
ThingyMajiggy said:
Yeah it's T/A, nah it's not T/A, yeah it's T/A. Whatever suits, maybe I should use fibs, then at least there'll be a line that could be the reason it bounced furiously from that point lol :rolleyes:
Click to expand...

Actually it bounced cuz I went long and strong at that point.

Magic trades.gif

I have the Magic :D
 

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