Money market: increased appetite for liquidity
NDF rates corrected down 30-50bp, with the 3M NDF rate declining to 12.03% and 9M NDF rate closing at 11.85%. At the same time, the XCCY curve widened 4-6bp. The one-year tenor rose to 12.20%, and looks appealing to receive at current levels. The IRS curve shifted up 10-20bp, 3M MosPrime closed flat at 11.83%.