How Tight Is Liquidity In China? This Tight
Earlier on Wednesday I highlighted tightening liquidity in China.
For anyone who missed it or for those who don't read the early morning market wraps (shame on you), here's a recap:
In yet another testament to how precarious the liquidity situation is, overnight CNH Hibor jumped 8.6 points to 15.18%. That’s the highest since September. Longer tenors rose as well to near 12-month highs (1-week CNH Hibor +4.5ppts to 13.266%, 3-mo. CNH Hibor +66bps to 8.998%). Here’s Bloomberg with some fur