Little change for the People's Bank of China yuan reference rate today
In open market operations:
- to inject 100 bn yuan via 7-day reverse repos
- to inject 70 bn yuan via 14-day reverse repos
- to inject 50 bn yuan via 28-day reverse repos
If you are relaxed and comfortable, here's a piece from Bloomberg just for you :-D
- There's another Chinese financial practice that's prompting high-decibel warnings. So-called entrusted bond holdings are a way for financial institutions to skirt rules on using borrowed money to invest in bonds.
- How? By getting a third party to buy the bonds and agreeing to purchase them at a later date.
- What could possibly go wrong? How about the worst rout in China's bond market in a decade. That's left regulators concerned about the prospect of investors failing to make good on such arrangements, estimated to involve at least $144 billion of bonds.