Emerging Markets Cross-Asset Strategist, Emvest Partners

Guillaume Coutant

Emerging Markets Cross-Asset Strategist

Cross-Asset Emerging Markets Technical Research

Emvest Partners

Emvest Partners is the leading independent French financial analyst specializing in Emerging Markets for  Asset Managers, Hedge Funds and Family Offices. The studies provided by Emvest Partners are based on a top-down, cross-asset and relative-value approach of the financial markets. The articulation of macroeconomic analysis and technical analysis improves the consistency of the recommendations, the mitigation of risks of error and a significant improvement in performance.

Technical Analysis

Long term consolidation of <a href="https://www.smartkarma.com/entities/22820" target="_blank" data-smartkarma-citation="entities:22820:1">CNY (USDCNY CURNCY)</a> swaps expected since the beginning of 2017.The bounce which took place since June 2017 makes the market back close to intervention levels for a new receiving move.In the midterm, the 1-5y swap curve is expected to flatten below 37/40bps to reach 20bps.The bullish flattening expected will probably go in line with a flight to safety from Chinese assets and dodgy economic data.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/033/599/original/CCSWNI5%20Curncy%20%28CNY%20SWAP%20NDIRS%207%202017-08-30%2012-06-26.png?1505401573" class="editor-image img-responsive" data-smartkarma-image-id="33599"></figure>Therefore, preference is for the 5y NDIRS that should be received below the…

Long term consolidation of CNY (USDCNY CURNCY) swaps expected since the beginning of 2017.The bounce which took place since June 2017 makes the market back close to intervention levels for a new receiving move.In the midterm, the 1-5y swap curve is expected to flatten below 37/40bps to reach 20bps.The bullish flattening expected will probably go in line with a flight to safety from Chinese assets and dodgy economic data.Therefore, preference is for the 5y NDIRS that should be received below the…

CNY

CNY 5y Swaps Are Going to Be Received