tera power leveling November 22 - BIY

Reuters Beijing, November 22, 2011 China's Zhejiang Province rural credit system allowed to redirect its institutions renminbi deposit reserve rate of 0.5% per cent swtor valor power leveling, will be held on November 25 (Friday) to take effect. Our view: the Reserve cut more symbolic than practical significance involved on Friday downgraded the Renminbi deposit reserveFive bodies were due last year raised its assessment of non-compliance reserve to punish.　　Government gateway node in the policy a delicate cut the amount of these five organizations, we believe that the fall in this tentative has certain policies. October Exchange reduce or just the introduction of statistics data showed that October Exchange per cent negative growth of 248 in the month.$ 9.2 billion, for the first time in nearly four years of negative growth. Taking into account trade surplus of $ 17.033 billion and FDI83.34 under the background of millions of dollars in the month, thick diameter capital outflow reached 186.1 billion yuan. According to our study found that capital inflows, have migrated to major under the influence of three factors: first overseas risk aversion, risk index VIX; IIIs Yuan forwards rise expected tera power leveling, the NDF and the present exchange rate difference; three domestic asset prices, especially in real estate prices. Based on historical experience, these factors can explain most of the motives of short-term capital flows. From the NDF trend view diablo 3 gold, September and October were flat, while VIX risk is still dominated by risk aversion, but remained atLevel of around 30, and the obvious decline of China's real estate market began to appear in October. According to this logic, taking into account the European debt persistence as well as the United States reduced the Chek Lap Kok and other factors such as impact, VIX risk index is likely to remain high, in price and under the dual pressure of the economic slowdown, currency forwards rose sharply again water less likely, short-term capital flows mayContinued to be affected by fluctuations in real estate prices, future probabilities in decreasing to reproduce substantial inflows of capital in the short term, increases in foreign exchange are likely to remain low. (Specific content please see annex)