WisdomTree Chinese Yuan ETF
 (CYB)

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  • Nov. 1, 2013, 2:50 AM
    • China's official manufacturing PMI increased to an 18-month high of 51.4 in October from 51.1 in September and surpassed consensus of 51.2. (PR)
    • However, the reading for big companies rose, while that for smaller ones dropped into contraction territory, highlighting the unbalanced nature of China's economy.
    • HSBC PMI edged up to 50.9 (flash 50.9) from 50.2.
    • Output growth hit a six-month high, an expansion in new orders and export orders accelerated, and the survey indicated the fastest accumulation of work-in-hand since March 2011.
    • The stronger momentum of manufacturing growth translated into the first expansion of employment since March, HSBC said. "This in turn should support private consumption growth in the coming months. China is on track for a gradual growth recovery." (PR)
    • Meanwhile, prices for new homes in 100 cities climbed an average of 10.7% on year in October, data from research firm China Real Estate Index System shows.
    • The Shanghai Composite is +0.35%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Nov. 1, 2013, 2:50 AM
  • Oct. 30, 2013, 3:09 AM
    • China's short-term money market rates have continued to climb even after the central bank yesterday injected 13B yuan ($2.13B) into the market in an effort to ease worries that it was planning a major tightening of policy.
    • The seven-day repo rate rose 64 bps to 5.59%.
    • However, analysts believe that the increase in rates is seasonal, and they aren't too worried that rates will spike to the extreme levels seen in June. They also reckon that the central bank will soon provide more cash for the markets.
    • The Shanghai Composite is +1.4%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 30, 2013, 3:09 AM | 1 Comment
  • Oct. 29, 2013, 4:19 AM
    | Oct. 29, 2013, 4:19 AM | 1 Comment
  • Oct. 29, 2013, 2:14 AM
    • The People's Bank of China has injected 13B yuan ($2.13B) into the markets via open market operations, resuming such action for the first time in two weeks.
    • Although the amount was small, especially compared with the 102.5B yuan that has drained from the system, the move eased fears that the PBOC was planning to dramatically tighten monetary policy and signaled that the bank doesn't want a repeat of the cash crunch in the summer, when repo rates climbed to extreme levels.
    • However, the Shanghai Composite is -0.55%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 29, 2013, 2:14 AM
  • Oct. 27, 2013, 12:06 AM
    | Oct. 27, 2013, 12:06 AM
  • Oct. 25, 2013, 8:39 AM
    • An arm of the PBOC will begin calculating and publishing a "loan prime rate" each day based on rates charged to the best clients by nine major lenders (one can imagine the prime rate manipulation scandal headlines a decade from now).
    • Today's rate printed at 5.71% vs. the PBOC-set benchmark of 6%. "The new rate can be a very useful indicator for economists and analysts to measure credit demand and supply on the ground - a good indicator that did not exist before," says Xu Gao, chief economist at Everbright. He quickly adds he needs more time to determine if these are truly market rates, noting the yuan fixing is supposed to be based on bank quotes, "but everyone knows" the PBOC is pulling the levers.
    • China financial ETF: CHIX.
    • Broad China ETFs: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYPCNY, CYB, FXCH.
    | Oct. 25, 2013, 8:39 AM
  • Oct. 25, 2013, 3:58 AM
    • Chinese shares dropped for the fourth day in a row, slumping 1.45% after a money market squeeze intensified and repo rates hit their highest levels since the People's Bank of China engineered a credit crunch in June.
    • The overnight rate touched 7.5% at one point and the benchmark seven-day hit 6.94%.
    • A major reason why the rates have increased is that the PBOC has stopped issuing reverse repos during open market operations, which would inject cash at a time when demand is high because of month-end tax and regulatory escrow payments that are due. The bank's lack of action has meant that 58B yuan ($9.54B) has drained from markets this week and 157.5B yuan since September 30.
    • Still rates are well below the levels reached in June, when they hit as high as 30%.
    • Experts are divided over whether the PBOC's strategy is short term and seasonal or whether it signals something more long term as the bank attempts to keep inflation under control and tame the growth in credit.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 25, 2013, 3:58 AM
  • Oct. 24, 2013, 5:26 AM
    • The People Bank of China has refrained from injecting liquidity into money markets for a third consecutive session, adding to concerns that it's clamping down on inflation, which hit 3.1% in September.
    • The PBOC's lack of action has meant that 58B yuan ($9.53B) has drained from the country's interbank market this week. And since the week of September 30, the PBOC has drained over 157B yuan.
    • In reaction, China's seven-day repurchase rate - a benchmark for short-term funds - rose 65 basis points, the biggest rise since July 29, to 4.67%.
    • Meanwhile, the city of Beijing is to impose further restrictions to try to cool the buoyant housing sector, although it's also going to try to increase supply for middle-income families.
    • The PBOC's actions helped Chinese stocks drop 0.8%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 24, 2013, 5:26 AM | 1 Comment
  • Oct. 23, 2013, 10:26 PM
    | Oct. 23, 2013, 10:26 PM
  • Oct. 22, 2013, 3:04 AM
    • New home prices in China's four major cities rose at the fastest rate since January 2011 last month, again highlighting the economic dilemma that the government finds itself in.
    • Price jumped 20% on year in the southern business centers of Shenzhen and Guangzhou, 17% in Shanghai and 16% in Beijing. Overall, prices rose in 69 of the 70 cities that the government tracks.
    • On average, prices increased  8.19% vs 7.48% in August and 6.7% in July, the WSJ calculates.
    • "Home prices, especially in big cities, are a bit out of control," says economist Liu Li-Gang, adding that China faces a property bubble.
    • Another economist, Xu Gao, gives the flip side. "If home prices fall, the economy will certainly slump. The government is trying to find a balance," says Xu.
    • The Shanghai Composite is -1%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 22, 2013, 3:04 AM | 1 Comment
  • Oct. 21, 2013, 3:41 AM
    • China's economy is "stable and trending for the better," and has the ability to meet the government's targets this year, the country's State Council said yesterday.
    • However, the council warned that the foundations of the recovery are "not yet firm," and that the government needs to be "unrelenting" in applying its economic policies and reform.
    • China's GDP grew 7.8% in Q3, above the annual target of 7.5%.
    • Meanwhile, China is expected to soon publish details about local government debt, which is estimated at 15-30T yuan ($2.46-4.92T). The central government is considering widening a pilot program that allows municipalities to sell bonds as a way to improve the transparency of their debt.
    • The Shanghai Composite is +1.6%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 21, 2013, 3:41 AM
  • Oct. 18, 2013, 3:22 AM
    • Q3 GDP growth of +7.8% was the fastest this year, reflecting a "mini fiscal stimulus" that included railway spending and tax cuts.
    • However, Bank of America economist Ting Lu believes that the "growth peak" is "now behind us."
    • Nine-month GDP rose 7.7%, above the government's annual target of 7.5%.
    • Investment accounted for 56% of growth, well above the 46% for consumption, while exports subtracted 1.7%. The figures indicate the job the government has to do in its attempt to rebalance the economy towards more consumption.
    • Meanwhile, home sales jumped 34% on month in September after the banks loosened lending requirements in order to stem the economic slowdown earlier this year. On the other hand, the government also wants to cool the frothing housing sector.
    • Shanghai Composite +0.2%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 18, 2013, 3:22 AM
  • Oct. 17, 2013, 10:11 PM
    • China Q3 GDP: +7.8% Y/Y versus +7.8% expected; +2.2% Q/Q versus +1.9% expected.
    • China September industrial production: +10.2% versus +10.1% expected and 10.4% previous.
    • China September retail sales: +13.3% versus +13.5% expected and +13.4% previous.
    • China ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 17, 2013, 10:11 PM | 9 Comments
  • Oct. 17, 2013, 2:06 AM
    • China's foreign direct investment grew 4.9% on year to $8.8B in September, accelerating from growth of just 0.6% in August but still well below the July expansion of 24.1%.
    • In January-September, FDI rose 6.2% to $88.6B; non-financial FDI climbed 17.4% to $61.6B. (PR)
    • Meanwhile, China's Commerce Ministry is prepared to take measures to support exporters and help ensure that trade growth hits a target of 8%. The ministry warned that exporters particularly face a tough time in emerging markets, which "are starting to lose growth momentum."
    • Shanghai Composite +0.5%.
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 17, 2013, 2:06 AM
  • Oct. 14, 2013, 2:22 AM
    • On month, CPI +0.8% in September vs +0.5% expected and +0.5% in August.
    • The on-year figure of +3.1% was a seven month high but within the government's annual target of +3.5%. Droughts and floods in various regions helped to push food prices up 6.1%.
    • "September CPI inflation gained more momentum on seasonal factors and a low base effect from last year," says economist Li Huiyong. "But we think the inflation situation is still under well control and will not be a concern this year, especially when the economy is struggling with over-capacity problems."
    • ETFs - Stocks: FXI, GXC, PGJ, YAO, FCHI, PEK, CAF, YXI, XPP, FXP, MCHI, YINN, YANG, TCHI, CHXF, KFYP, HAO, ECNS. Bonds: DSUM, CHLC. Currency: CNY, CYB, FXCH
    | Oct. 14, 2013, 2:22 AM
  • Oct. 13, 2013, 9:44 PM
    | Oct. 13, 2013, 9:44 PM | 2 Comments
CYB Description
WisdomTree Chinese Yuan Fund seeks to achieve total returns reflective of both money market rates in China available to foreign investors and changes in value of the Chinese Yuan relative to the U.S. dollar.
See more details on sponsor's website
Country: China
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