China Swaps Complete First Weekly Gain in Four on Improving Data
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China’s one-year interest-rate swaps completed their first weekly gain in four on speculation signs of an improving economy will delay any monetary easing.
New local-currency loans climbed to 871 billion yuan ($140 billion) in May, beating 42 of 43 economists’ estimates in a Bloomberg News survey, while money supply also rose, the central bank reported yesterday. Data over the last week also showed export growth and consumer-price gains accelerated.