Look out! Chinese money markets are freezing up again.
This is O/N yuan HIBOR and as you can see, the cost of short-term liquidity is spiking, reinforcing the notion that the biggest risk for the PBoC is “tightening too much.”
(Chart: Bloomberg)
Look out! Chinese money markets are freezing up again.
This is O/N yuan HIBOR and as you can see, the cost of short-term liquidity is spiking, reinforcing the notion that the biggest risk for the PBoC is “tightening too much.”
(Chart: Bloomberg)
