Asia Chart Alert Global Markets Research Rates - Asia ex-Japan China rates: Will liquidity tighten in September? We expect the 7d repo fix to gradually grind higher until quarter-end, in line with seasonality. Research Analysts Asia Rates Strategy Clair Gao, CFA - NIHK clair.gao@nomura.com +852 2252 1081 Albert Leung - NIHK albert.leung1@nomura.com +852 2252 1401 Fig. 1: The PBoC's OMO net injection and 7d repo fixing in September 2023-2025 Source: Wind, Nomura See Appendix A-1 for analyst certification, im ...