Surprise China MLF rate rise weighs on bonds; yuan and money rates fall

After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.

• Oct 13, 2016China: Behind CNY’s surprise fall - RBS — Octa+0.3%
• Jul 25, 2024China central bank surprises by lending again at lower rates | Reuters-0.6%
• Mar 22, 2024China yuan slides to four-month low, state banks step in | Reuters+0.4%
• Aug 25, 2022Inflation-hit world cheers China’s falling yuan | Reuters+0.5%
• Jun 30, 2016China's yuan sees biggest quarterly fall on record+0.7%

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Jun 30, 2016China's yuan sees biggest quarterly fall on record+0.6%
• May 11, 2023Oil falls 2% on weak US and Chinese economic data | Reuters+0.9%
• Jun 23, 2023Stocks fall, dollar up as investors weigh more rate hikes | Reuters+0.6%
• Oct 29, 2018China's yuan finishes onshore trading at weakest since 2008 By Reuters+0.1%
• Dec 6, 2022China's yuan slips, traders wary of reopening risks | Reuters+0.1%