Senior office Zhong X from PBoC published an article addressing several key issues for 2017 :
As I mentioned in the previous post, leveraging up in the interbank market happened last year, primarily among the non-bank financial institutions, is based on a strong assumption that PBoC will keep rolling its daily open market operations. Borrow…
TGIF — With nearly 1600 billion liquidity due this week, the largest single week liquidity drain in a year, the market seems to be extremely concerned about mom PBOC’s plan on how to roll over it. To remind ourselves of the context, the due schedule of funding…
Ever since PBOC hiked rates the first day back to office after the Lunar New Year, it has been fully convinced the authorities is going to take actions with no hesitation to deleverage its unhealthily expanding financial system. That was previously a we don’t want to admit until…