China’s corporate sector has been hit with escalating credit problems. Here is the latest:1. Shanghai Chaori Energy Science and Technology is about to miss a coupon payment on its bond (see story).2. As a result, Suining Chuanzhong Economic Technology …
China’s short-term rates have spiked again. In a replay of this summer’s liquidity squeeze (see post), term money market rates (SHIBOR and repo rates) have risen across the board. The PBoC had to inject liquidity to stabilize the situation.
The widely followed Markit PMI report of China’s manufacturing for July was disappointing.Source: EconodayGrowth across developing economies has become a problem, and China is no exception.Source: Markit/HSBCHSBC: – The lower reading of the July HSBC F…
The sharp jump in China’s short-term rates has been nearly reversed. Repo rates are approaching their longer-term averages, with the PBoC coming to its senses and addressing the liquidity squeeze.China’s short-term repo rates (blue=o/n, red= 1w, green …
China’s interbank rates have unexpectedly spiked last week as the SHIBOR curve (China’s LIBOR equivalent) became highly inverted. Given that there have been no indications of a change in policy by the PBoC (the central bank), there is only one thing th…