UBS Morning Adviser

CNH implied forward yield has been rising in spite of ample onshore liquidity

In recent weeks the USDCNH forward curve has been climbing steadily; 1 year forward  points have risen from the 500-700 pips range seen for most of YTD 2014 to above900 pips (equivalent to 1.7% implied yield,) levels not seen since last October.

Read the full report: UBS