Analysts at Scotiabank explained that, interesting developments in the markets. Key Quotes "We note that US equities have started to out‐perform US Treasury bonds in the past few days, which may represent the first reversal in the trend of relative (equity) under‐performance since December and signal a little more conviction coming back to the markets. It’s early days but this should be encouraging and might suggest a broader improvement in risk appetite is at hand. USD/CNY rose modestly today but the CNH remains stable. The spread between the onshore/offshore market has narrowed significantly since January’s volatility and we look for a little more stability in the CNY from here for now. The main focus for out session is likely to be the January FOMC minutes." For more information, read our latest forex news.