There is a lot of effort going into supporting Chinese markets today
For example ... lets destroy CNH shorts ... Overnight yuan HIBOR to record 66.8% (from yesterday's 13.4%)
Has it paid off?
You tell me.
Shanghai Composite has stuck its nose above water:
barely
-
There is plenty of "this is positive for 'risk' " going around. Its all very tenous IMO. Still, there is no doubting the PBOC's determination ... jamming HIBOR so high is a sign of it.
