A Renminbi by any other name

26 Apr

I do not have anything to terribly exceptional to add to the conversation, but I am yet to see any blogs mention the bizarre disconnects across the three most traded proxies for the Chinese Yuan. It’s been a mysterious topic of discussion in liquid markets land as the spikes, dips, and rolls are oddly scattered about the past few days of the time series.

Anyhow, here’s the offshore Hong Kong deliverable, the onshore mainland CNY, and the offshore 1 month (freely traded) NDF over the past two weeks. Make of it what you will.

Discussion of the issue is more than appreciated in the comments.


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