Asia Breakfast Briefing - Oct 31 2017 ASIAN PREVIEWAfter a slow start to t

ASIAN PREVIEW

After a slow start to the week, the calendar picks up to end the mth on busier note

Heavy Asian docket with JP unemployment, BoJ, CN"s mfg/non-mfg PMIs

AUS to feature new home sales. private credit; NZ to reveal Labour"s 100day plan

Europe kicks off with UK"s Gfk consumer confidence in the morning

FR"s 1st est GDP, CPI, EU"s GDP, CPI and unemployment rate the other highlights

US has employment cost index, consumer confidence, Chicago PMI

Viewpoint: Ader"s Musings - Leaning Bearish on Supply, Base Effects, Positions

Viewpoint: 4% jobless target for RBNZ? Will this really mean a longer rate pause?

Viewpoint: Japan"s Sep retail sales rebound but still lacks general momentum

Focus Comment: Theory that last wk"s UST yield pop was a fake-out being tested

Oct NBS manufacturing PMI (surv 52.0, prev 52.4), Oct non-manufacturing PMI (prev 55.4) due 31 Oct 01:00 GMT

Oct Caixin manufacturing PMI (surv 51.0, prev 51.0) due 1st Nov 01:45 GMT, composite (prev 51.4) and services (prev 50.6) due 03 Nov 01:45 GMT

China will be releasing its official and non-official mfg and non-mfg PMIs in the coming week and as the Caixin survey tracks private, smaller companies that do not benefit as much from government stimulus as state-owned firms do, both measures thus do not have a historical tendency to correlate.

This could be seen in the Sept releases with the official mfg reading coming at 52.4 (prev 51.7, exp 51.5), the highest since Apr 2012, as output, new orders and new export orders grew. The Caixin measure, meanwhile, fell to 51.0 (prev 51.6, exp 51.5), the slowest reading since June as output and new orders rose the least in 3mths while export sales slowed.

Given the difference in the type of firms surveyed, the discrepancy is thus not entirely surprising, although in this case there could be a viable explanation. Smaller, private firms that do not have access to credit nor possess a large capital base as do larger, state-owned firms have been disproportionately hit from tightening financial conditions. This could be seen by the recent easing of reserve requirement ratio to better facilitate lending to smaller firms.

In addition, we have long harboured suspicion that Chinese producers have been beefing up their industrial/mfg output to take advantage of the higher base metal prices (and hence pad up their profit margins) before the winter curbs hit, while provincial Chinese officials may have also been ordering an output ramp-up to pad growth figures ahead of the CCP congress.

As such, it could be argued that the slowing in the private PMI index would be a better reflection of the slowing economic growth in China that should have been in place amidst tighter financial conditions and curbs on the property market, which would in turn stymie investment and construction growth. Hence, the key validation to this hypothesis would lie in a similar downturn in Oct"s official mfg PMI, although there is still a good chance that the reading would exceed expectations, given the proximity of the release date to the conclusion of the CCP congress. As such, if Oct"s release continues to be robust, expect a sharper downturn in Nov. Till then, a key leading indicator would also be new orders as a notable downtrend would then point to slowing output and PMIs ahead. To this extent, the Caixin measure has already been exhibiting a slowdown, which does not bode well for the official PMI.

BOJ policy decision due on Tues 31 Oct, f/c on hold

The BOJ"s next policy decision is due at the conclusion of their 30-31 Oct meeting. No policy changes are expected, given that the BOJ remains confident that robust output and a "tight" labour market will ultimately fan inflationary pressures. While new BOJ member Kataoka came out as uber-dovish at the Sep meeting, there"s been no follow-up comments from him since on fresh easing ideas. In general, we hold the view that Kataoka will be over-ruled by his boss Gov Kuroda who has repeatedly stressed that the current monetary policy is "sufficient to reach the 2% inflation target".

From another standpoint, the notion of Kataoka proposing fresh easing ideas is also debatable, given the BOJ is already in the throes of unconventional policy, low inflation is a global phenomenon and the fact that there are structural issues linked to tech disruptions/aging demographics.

All these factors won"t respond to monetary policy tweaks by itself. Even more importantly, there"s the big issue of sustainability given the BOJ has already distorted the JGB market where no one actually has an incentive to aggressively sell, which was one of the reasons why the BOJ even shifted to YCC in the first place.

Bear in mind too that some LDP lawmakers have also expressed concern about the BOJ"s unprecedented monetary stimulus program (NIRP, YCC, ETF purchases) and at this point in time, it"s hard to see the BOJ being more aggressive in easing.

The odds of Gov Kuroda being re-appointed has risen since PM Abe"s landslide election victory, and as such, we don"t expect there to be any major shifts in monetary policy at this point in time.

Notion of continued ultra-loose BOJ policy needs to be qualified

The notion of ultra-loose or "on-hold" BOJ policy needs to be qualified again.

While they are holding an easing bias, the fact of the matter is that their YCC policy means that purchases vary according to gyrations in JGB moves (and invariably USTs).

Looking at the baseline scenario, the BOJ is still on track to expand their monetary base by less than their soft target of Yen80 trln annually.

In the most simplistic definition, that is actually tapering.

Speculation of YCC tweaks

There is some market speculation that the BOJ may move to tweak it"s YCC parameters in the mths ahead.

In particular, that the BOJ may actually be looking to reduce JGB purchases in the 5-10yr tenor at it"s regular bond purchase operations ahead, given concerns about sustainability.

There is also a parallel speculation that the BOJ may change it"s YCC focus to the 5yr instead of the 10s currently, coming after recent comments from BOJ dpty gov Nakaso about a possible adjustment in the shape of the yield curve while former BOJ member Kiuchi said back in Sep that there is no technical issue stopping a YCC focal switch from the 10s to the 5s.

For the immediate future, we don"t expect there to be a YCC tweak given bond market moves haven"t been overly skewed in any direction and volatility has been low. In a sense, there"s no need to rock the boat ahead of the Fed"s Dec policy decision and the ECB"s expected QE taper at the start of 2018.

Before the BOJ starts tweaking it"s YCC parameters, the cue will come from changes in their JGB purchases at the regular bond operations.

Over the recent past, there"s been no changes here with the yields in 5s and 10s staying within the BOJ"s comfort zone.

Focus is however on the BOJ"s latest qtrly outlook report

The main attention is however on their latest qtrly outlook report

With Kataoka trumpeting low inflation and with Gov Kuroda having recently acknowledged that falling mobile phone services costs and the decline in business operating hrs are a downside drag on inflation, there is a good chance that the BOJ"s f/c for core CPI will again be revised lower in the upcoming qtrly outlook report. For headline inflation, there"s also downside drag from the fall-off in low base effects from crude.

The current market chatter is that the BOJ may cut it"s FY2017 core CPI f/c to 0.8% y/y from 1.1% y/y in Jul.

While there is a chance that FY2018 core CPI will also be revised down, it may only be marginal (1.4% y/y vs 1.5% y/y projected in Jul) while the FY2019 core CPI is likely to stay unchanged at 2.3% y/y.

On the other hand, econ growth f/c for FY2017 will likely be bumped up to 1.9% y/y from 1.8% y/y f/c in Jul given the continued strength in foreign/domestic demand propping up output. The outlier risk is that the BOJ may consider altering it"s econ guidance that risks are "skewed to the downside".

Market impact

There"s unlikely to be much impact on JGBs or the Yen from the BOJ"s policy decision.

Note that despite the prevailing backdrop of higher yields, there has been inherent demand for super-long JGBs since end-Sep from Japanese banks and real-money names amidst speculation that the BOJ could further revise down their core CPI f/cs at the next qtrly outlook to be released on 31 Oct.

For the 20s, we still see it struggling to conclusively break above 0.600%, and it may well trend within a 0.570-610% range ahead.

For the 30s, we suspect the topside will continue to be capped around 0.885-900% and that it could trend back down towards 0.840-820%.

For the Yen, the Japan election inspired weakness was short-lived (given it merely reinforces the current status quo) and it"s still down to risk aversion and Fed Chair/US tax reform cues.

Japan Sep jobs report due on Tues 31 Oct, jobless rate f/c steady at 2.8%

The Sep jobs report is f/c to show a steady unemployment rate of 2.8%, which is a 23yr low. The job-to-applicant ratio is f/c to tick up to 1.53 vs 1.52 prev, which will be a 43yr high, judging by the increase in Sep job adverts (1.24 mln vs 1.135 mln in Aug, although it was a -0.8% y/y decline).

As we mentioned before, on the surface, it would appear that Japan"s job market is tight (even more so than in the peak 90s) and that companies are struggling to fill positions.

That said, the reality is somewhat more sober. The tight labour market is rather down to structural issues linked to an aging demographic and falling population, the lack of foreign labour, and how a lot of the new jobs created are part-time and low-paying (particularly for young Japanese and mothers returning to the labour force). While there has been a small degree of wage growth (though real income growth is barely positive), it"s not uniform and what"s even more concerning is how the big multinationals are lagging behind in this (especially in service-oriented roles). Low productivity is also a concern although this boils down largely to small companies and a broad over-staffing in service roles.

Japan Sep overall household spending due Tues 31 Oct, f/c 0.5% y/y, last 0.6% y/y

Reviewing the Aug print of 0.6% y/y that was a rebound from the unexpected -0.2% y/y contraction in Jul, it was below the market"s consensus of 0.9% y/y although smack bang in line with our own expectations. Statistically, the Aug rebound was down in large part to low base effects from Aug 2016, mirroring the bounce in Mar, but our lower than consensus expectation was based on bad weather in Aug.

We are expecting a slight moderation to 0.5% y/y in Sep on expectations of drag from general merchandise sales, although the market consensus is for a slight uptick to 0.7% y/y.

Again, we will focus on the prevailing l/t trend. The average over the past 6yrs stands at -0.9% y/y while the avg since Abenomics was enacted in Dec 2012 is -1.3% y/y. Along with low inflationary pressures, this is quite damning in the sense that Abenomics has not solved the fundamental issues lingering over from the 2 "lost decades" btwn 1991-2010, with large scale monetary easing only serving to prop up asset prices. At the margins, the structural issues associated with the labour market that leads to subdued wage growth is a drag on household spending, and by extension a lack of durable traction in inflationary pressures.

This brings us back to why PM Abe should focus more on the 3rd arrow of structural reforms, although his post-election priority appears to be using his political capital to revise Japan"s pacifist constitution.

Japan Sep prelim IP due on Tues 31 Oct, f/c -1.6% m/m and 2.0% y/y, last 2.0% m/m and 5.3% y/y

The Aug final IP print was revised down to 2.0% m/m and 5.3% y/y from the prelim print of 2.1% m/m and 5.4% y/y, albeit still higher than Japan"s METI (Ministry of Economy, Trade and Industry) prior f/c of 1.4% m/m.

The Sep prelim IP print is f/c to come in at -1.6% m/m and 2.0% y/y.

We would highlight that the METI"s updated f/cs released on 29 Sep is for Sep IP to fall -1.9% m/m (vs the prior f/c of a -3.1% m/m decline) but for Oct"s output to rebound 3.5% m/m. Using this for extrapolation, that could mean a seasonally adj IP average of 102.18 for Q3 as compared to the Q2 average of 102.07, which would represent a 0.11% q/q uptick.

This would bring the IP q/q expansion back below the pace of Q1 2017 (0.2% q/q) where GDP expanded 0.3% q/q, and given the strong correlation btwn both, that could be a signal that Japan"s econ growth peaked in Q2 and is set to moderate ahead. If growth does slow ahead, a Q3 growth slowdown does bring up the spectre of the govt mulling over a supplementary budget for early 2018.

NEW ZEALAND PM Jacinda Ardern"s New 100-Day Plan due Tues 31 Oct

It is expected for the NZ political sphere to once again come into focus next week as the new NZ PM Jacinda Ardern is set to reveal her "new" 100-day plan. Although Ardern has mentioned that the "new" 100-day plan "will essentially stay the same" as the one we already know, it is still imperative to eye if the new NZ government"s potentially market-moving proposals of immigration control and RBNZ reform eventually make their way into the plan. Based on presently available public information, Labour"s 100-day plan includes a ban on overseas speculators from buying existing homes and an increase of the minimum wage to $16.50 per hour, with effect from April 2018, amongst many others. It is also imperative to note that any stalls/hiccups to the new NZ government"s initial legislative push may forestall the commencement of work on other campaign promises, which may not necessarily be a bad thing for the NZD and NZGBs, especially when it comes to immigration control and RBNZ reform. TY

NEW ZEALAND Oct ANZ Business Confidence due Tues 31 Oct

New Zealand"s ANZ business confidence slipped to a 23-month low of 0.0 (net neutral outlook) in Sep as political uncertainty ahead of the NZ election (amid a then-ongoing tight race between Labour and National) set in. Key survey sub-indices such as Employment, Activity Outlook and Investment declined in tandem with the headline figure, though all three sub-indices still gave net-positive readings. Given how most parts of the Oct period saw an arguably similar degree of political uncertainty ahead of "Kingmaker" NZ First"s coalition decision, we suspect that Oct"s print may well reflect a similarly undecided take on future business prospects, with the reading likely to still be deemed mostly unindicative of business opinions in a Labour-NZ First coalition setting. That said, we may want to look to future prints (Nov onwards) for greater outlook clarity, with the suspicion that prints may eventually be primed towards the downside given how the new NZ govt is likely to introduce higher minimum wages and tighter immigration control, amongst many other policies. TY

OVERNIGHT SESSION WRAPS

US FX Close

EUR/USDUSD/JPYGBP/USDAUD/USDUSD/CADDOWDXYOPEN1.1638113.591.31640.76791.2826-85.4594.642HIGH1.1658113.691.32150.76911.2861CLOSED94.829LOW1.1604113.031.31620.76561.2818@94.450CLOSE1.1658113.141.32140.76901.282023348.7494.456

Ranges were relatively tight heading into Monday"s North American close ahead of tomorrow"s month-end with rate policy meetings in the US, England, and Japan later this week beginning to draw attention. The USD Index fell for the first time since last Wednesday despite slight beats in Personal Spending and Dallas Fed Manufacturing data as 60-minute RSI eased off readings from in the upper 80"s Friday. Gbp/Usd extended strength from Friday"s intraday 1.3070 reversal low to outgain all G-10 pairs while probing the 20 DMA. Usd/Jpy dropped the most in a month to a 1-week low under prior 7+ month falling resistance off the 115.51 lower high. Usd/Chf fell for only the third time in eleven days to drop under the 61.8% retracement of 1.0344/.9421 (.9991). Cad/Jpy declined for the sixth time in eight days to a near-2 month low as the RSI dipped into the mid-20"s. Eur/Nok moved higher for the eighth time in eleven days while briefly probing the +2SD upper Bollinger band. Usd/Sek consolidated Friday"s 8.4007 3.5-month high while falling for only the second time in seven sessions. Tuesday"s calendar includes Employment Cost Index, Chicago Purchasing Manager, and Consumer Confidence data.

US Treasury Close

10-YEARDec TENDec BONDDec S&PDec 0IL2/105/303/10/30HIGH98-31

125-01+152-112577.0054.4681.690.217.8LOW98-19124-23151-112565.7053.7578.888.214.7LAST98-30+

125-00+150-102570.0054.1279.288.415.8CHANGE+10/32+13+/32+1-4/32-8.40+0.22-2.2-0.3-1.7

TREASURIES CLOSE 3:00PM The complex maintained a firm tone throughout the day, ignoring data as month end adjustments were the main theme. Volume was around average, with good morning flows which faded this afternoon. The complex ended with moderate gains and just below session highs. The curve flattened versus the front end, but the 5-30yr sectors were basically in lockstep. Some techs note that USZ finished above its 9-day, only a light resistance zone, and briefly tested the edge of it"s 18-day zone, 152.10-18. We would now favor a scaled up day trade sell strategy between USZ 152.10-18. JK

DAY AHEAD

Time (GMT)CtyEventPeriodSurveyPriorRevised30/10/17 21:00SKBusiness Survey ManufacturingNov--79--30/10/17 21:00SKBusiness Survey Non-ManufacturingNov--78--30/10/17 21:45NZBuilding Permits MoMSep--10.20%--30/10/17 22:30AUANZ Roy Morgan Weekly Consumer Confidence IndexOct-29--113.3--30/10/17 23:00SKIndustrial Production SA MoMSep2.20%0.40%--30/10/17 23:00SKIndustrial Production YoYSep4.80%2.70%--30/10/17 23:00SKCyclical Leading Index ChangeSep--0--30/10/17 23:30JNJobless RateSep2.80%2.80%--30/10/17 23:30JNJob-To-Applicant RatioSep1.531.52--30/10/17 23:30JNOverall Household Spending YoYSep0.60%0.60%--30/10/17 23:50JNIndustrial Production MoMSep P-1.60%2.00%--30/10/17 23:50JNIndustrial Production YoYSep P2.00%5.30%--31/10/17 00:00NZANZ Activity OutlookOct--29.6--31/10/17 00:00NZANZ Business ConfidenceOct--0--31/10/17 00:00AUHIA New Home Sales MoMSep--9.10%--31/10/17 00:01UKGfK Consumer ConfidenceOct-10-9--31/10/17 00:01UKLloyds Business BarometerOct--23--31/10/17 00:30AUPrivate Sector Credit MoMSep0.50%0.50%--31/10/17 00:30AUPrivate Sector Credit YoYSep5.60%5.50%--31/10/17 01:00CHManufacturing PMIOct5252.4--31/10/17 01:00CHNon-manufacturing PMIOct--55.4--31/10/17 02:00SICredit Card Billings SGDSep--4529.2m--31/10/17 02:00SICredit Card Bad Debts SGDSep--24.0m--31/10/17 02:00SIMoney Supply M2 YoYSep--6.00%--31/10/17 02:00SIMoney Supply M1 YoYSep--9.90%--31/10/17 02:00SIBank Loans and Advances YoYSep--5.10%--31/10/17 03:30THMfg Production Index ISIC NSA YoYSep3.55%3.74%--31/10/17 03:30THCapacity Utilization ISICSep--62.46--31/10/17 04:00JNVehicle Production YoYSep--5.60%--31/10/17 05:00JNHousing Starts YoYSep-3.20%-2.00%--31/10/17 05:00JNAnnualized Housing StartsSep0.950m0.942m--31/10/17 05:00JNConstruction Orders YoYSep---10.60%--31/10/17 06:30FRGDP QoQ3Q A0.50%0.50%--31/10/17 06:30FRGDP YoY3Q A2.10%1.80%--31/10/17 07:30THExports YoYSep--15.80%--31/10/17 07:30THExportsSep--$21017m--31/10/17 07:30THImports YoYSep--14.30%--31/10/17 07:30THImportsSep--$17618m--31/10/17 07:30THTrade BalanceSep--$3399m--31/10/17 07:30THBoP Current Account BalanceSep$4213m$4657m--31/10/17 07:30THBoP Overall BalanceSep--$5687m--31/10/17 07:45FRCPI EU Harmonized MoMOct P0.10%-0.20%--31/10/17 07:45FRCPI EU Harmonized YoYOct P1.20%1.10%--31/10/17 07:45FRCPI MoMOct P0.10%-0.20%--31/10/17 07:45FRCPI YoYOct P1.00%1.00%--31/10/17 07:45FRPPI MoMSep--0.40%--31/10/17 07:45FRPPI YoYSep--2.00%--31/10/17 07:45FRConsumer Spending MoMSep0.60%-0.30%--31/10/17 07:45FRConsumer Spending YoYSep1.90%1.20%--31/10/17 08:00TAGDP YoY3Q P2.20%2.13%--31/10/17 09:00SPCurrent Account BalanceAug--3.0b--31/10/17 09:00ITUnemployment RateSep P11.10%11.20%--31/10/17 09:30SLCPI YoYOct--7.10%--31/10/17 09:30SLCPI Moving Average YoYOct--5.80%--31/10/17 10:00ECUnemployment RateSep9.00%9.10%--31/10/17 10:00ITCPI NIC incl. tobacco MoMOct P0.10%-0.30%--31/10/17 10:00ECGDP SA QoQ3Q A0.50%0.60%--31/10/17 10:00ITCPI NIC incl. tobacco YoYOct P1.30%1.10%--31/10/17 10:00ECGDP SA YoY3Q A2.40%2.30%--31/10/17 10:00ITCPI EU Harmonized MoMOct P0.20%1.80%--31/10/17 10:00ITCPI EU Harmonized YoYOct P1.30%1.30%--31/10/17 10:00ECCPI Estimate YoYOct1.50%1.50%--31/10/17 10:00ECCPI Core YoYOct A1.10%1.10%--31/10/17 11:00INFiscal Deficit INR CroreSep--20149--31/10/17 11:00ITPPI MoMSep--0.50%--31/10/17 11:00ITPPI YoYSep--1.60%--31/10/17 12:00INEight Infrastructure IndustriesSep--4.90%--31/10/17 12:30USEmployment Cost Index3Q0.70%0.50%--31/10/17 13:00USS&P CoreLogic CS 20-City MoM SAAug0.40%0.35%--31/10/17 13:00USS&P CoreLogic CS 20-City YoY NSAAug5.90%5.81%--31/10/17 13:00USS&P CoreLogic CS 20-City NSA IndexAug--201.99--31/10/17 13:00USS&P CoreLogic CS US HPI YoY NSAAug--5.94%--31/10/17 13:00USS&P CoreLogic CS US HPI NSA IndexAug--194.1--31/10/17 13:45USChicago Purchasing ManagerOct6065.2--31/10/17 14:00USConf. Board Consumer ConfidenceOct121119.8--31/10/17 14:00USConf. Board Present SituationOct--146.1--31/10/17 14:00USConf. Board ExpectationsOct--102.2--31/10/17 21:45NZUnemployment Rate3Q4.70%4.80%--31/10/17 21:45NZEmployment Change QoQ3Q0.80%-0.20%--31/10/17 21:45NZEmployment Change YoY3Q2.50%3.10%--31/10/17 21:45NZParticipation Rate3Q70.20%70.00%--31/10/17 21:45NZPvt Wages Inc Overtime QoQ3Q0.60%0.40%--31/10/17 21:45NZPvt Wages Ex Overtime QoQ3Q0.70%0.40%--31/10/17 21:45NZAverage Hourly Earnings QoQ3Q1.10%0.80%--31/10/17 22:00AUCBA Australia PMI MfgOct--53.8--31/10/17 22:30AUAiG Perf of Mfg IndexOct--54.2--31/10/17 23:00AUCoreLogic House Px MoMOct--0.30%--31/10/17 23:00SKCPI MoMOct0.00%0.10%--31/10/17 23:00SKCPI YoYOct1.90%2.10%--31/10/17 23:00SKCPI Core YoYOct1.40%1.60%--31-10-17PHMoney Supply M3 SRF YoYSep--15.40%--31-10-17PHBank Lending Net of RRPs YoYSep--20.40%--31-10-17PHBank Lending YoYSep--17.90%--31-10-17IDMoney Supply M2 YoYSep--10.00%--31-10-17IDMoney Supply M1 YoYSep--12.30%--31-10-17SPSpain Budget Balance YtDSep---21.50b--31-10-17MUHotel Occupancy RateSep--86.4--31-10-17JNBOJ Policy Balance RateOct-31-0.10%-0.10%--31-10-17HKBudget Balance HKDSep---15.7b--31-10-17HKMoney Supply M1 HKD YoYSep--12.30%--31-10-17JNBOJ 10-Yr Yield TargetOct-310.00%0.00%--31-10-17HKMoney Supply M2 HKD YoYSep--13.10%--31-10-17HKMoney Supply M3 HKD YoYSep--13.10%--

Central Bank Watch

Time (GMT)CtyEventPeriodSurveyPrior31/10/17 06:25SZSNB 9M Earnings

31/10/17 06:30SZSwiss National Bank Releases 3Q 2017 Currency Allocation

31/10/17 06:30JNBOJ Kuroda speaks at press conference after MPM

31/10/17 09:15ECECB"s Visco, Finance Minister Padoan at World Saving Day Event

31/10/17 19:30CAPoloz and Wilkins testify at Finance Committee

31-10-17JNBOJ Outlook Report

31-10-17JNBOJ Policy Balance RateOct-31-0.10%-0.10%31-10-17JNBOJ 10-Yr Yield TargetOct-310.00%0.00%

Auctions

Time (GMT)CtyEventPrev Avg YieldB/C31/10/17 01:30CHZhejiang to Sell CNY2.40333 Bln 3Y Bonds (2017-GEN-8)

31/10/17 01:30CHZhejiang to Sell CNY1.9774 Bln 5Y Bonds (2017-GEN-9)

31/10/17 01:30CHZhejiang to Sell CNY1.9774 Bln 7Y Bonds (2017-GEN-10)

31/10/17 02:30CHZhejiang to Sell CNY7.0564 Bln 5Y Bonds (2017-SPE-22)

31/10/17 02:30CHZhejiang to Sell CNY2.88257 Bln 7Y Bonds (2017-SPE-23)

31/10/17 02:30CHZhejiang to Sell CNY4.77385 Bln 10Y Bonds (2017-SPE-24)

31/10/17 02:30SKKorea to Sell KRW 1.75 Tln 30-Year Bond2.32%

31/10/17 09:00IDIndonesia to Sell 5Yr Bonds (FR0061)

31/10/17 09:00IDIndonesia to Sell 10Yr Bonds (FR0059)

31/10/17 09:00IDIndonesia to Sell 15Yr Bonds (FR0074)

Destinations: