The governors of the People’s Bank of China, the Bank of Japan and the Bank of Korea held their fifteenth tripartite meeting on the sidelines of the Bangkok annual meetings, the standing channel through which northeast Asia’s central banks coordinate on regional financial stability while their governments argue about trade. South Africa’s transition away from JIBAR, its scandal marked term benchmark, toward a reformed reference rate continued with further market notices, a change that will eventually reprice mortgages, loans and swaps across the rand market. In Brazil, retail sales rose 0.1 percent in August, the statistics agency IBGE reported, a near stall that keeps the easing argument alive in Brasilia; the item is single sourced to the agency release.
Japan’s debt office published its latest Treasury discount bill results on October 16 and scheduled the next auction for October 23, the routine end of the market that funds the world’s largest sovereign debtor at the lowest yields, and a standing reminder of how much of global duration pricing still anchors on Tokyo.