China’s Central Bank to Add Temporary Repos Depending on Market Conditions
(The ubiquitous “temporary” designation-so basically expect these all the time because the stimmy yuan didn’t make a dent in the housing market-and the amount was puss in the wind-so the banks aren’t able to create moar debt)
The People’s Bank of China will carry out temporary bond repurchase or reverse repurchase operations depending on the market situation during working days between 4:00 p.m. and 4:20 p.m. The central bank aims to maintain reasonable and sufficient liquidity in the banking system, it said in a statement on Monday. It gave details on pricing and said the duration of the operations would be overnight with fixed rates.
Ever since an old speech by President Xi Jinping mentioning PBOC bond trading as a potential tool came to the market’s attention two months ago, investors had been debating how that’s likely to work in practice.
Trading bonds is just one shift in how China’s central bank plans to operate in the midst of a decades-long reform of how it conducts monetary policy. Under proposals laid out by Governor Pan Gongsheng in a June speech, the PBOC is considering a switch to using just one key short-term policy rate. A rally in Chinese bonds has pushed benchmark yields toward their lowest in more than two decades amid a wave of inflows into scarce fixed-income securities and pessimism over the country’s long-term growth potential. That has led to a series of warnings from the PBOC on the risks of a bond bubble, particularly in longer-dated debt.
The move comes after the PBOC on Friday took the next step toward selling government bonds to cool a record-breaking rally, saying it now has “hundreds of billions” of yuan of the securities at its disposal through agreements with lenders.
https://www.bnnbloomberg.ca/china-s-central-bank-to-add-temporary-repos-depending-on-market-conditions-1.2093722
Yup
But you keep responding dbag
Go ahead and keep your larp going
It’ll be something else later
59-1475 KC-135 Stratotanker on the refueling track over E. Poland and back to Mildenhall right at sunrise nao
Zelensky will be leaving from Rzeszow (just SW of he bottom traces) for the NATO75 Summit that begins on Tuesday.
>>21156543 pb
SAM310 G5 arriving at Paris from S. Arkansas Regional Airport depart earlier today
You got the much reported on French selection and this….4 days ago there was an explosion at General Dynamics (Camden) which makes Javelin and Hellfire missiles and is about 35 miles from the Airport this AC was at today
From last Weds 0703
Blast at General Dynamics' munitions plant near East Camden injures 2 people
https://www.arkansasonline.com/news/2024/jul/03/two-people-injured-in-explosion-at-general/
TEAL73 WC-130 Hurricane Hunter took over for TEAL72 over TS Beryl
https://zoom.earth/storms/beryl-2024/
>Biden has nothing on his schedule for Monday July 8