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Shibor(o/n) hike 778 basis point in 2 days!
20/06/13
上海銀行間同業隔夜拆放利率(Shibor)升578.4個基點至13.444厘。
一周Shibor升292.9個基點至11.004厘。
一個月Shibor升178.4個基點至9.399厘。
三個月Shibor升39.5個基點至5.803厘。
19/06/13
上海銀行間同業隔夜拆放利率(Shibor)升206.4個基點至7.66厘。
一周Shibor升137.2個基點至8.075厘。
一個月Shibor升43.7個基點至7.615厘。
三個月Shibor升7.9個基點至5.408厘。
Liquidity is really low.
上海銀行間同業隔夜拆放利率(Shibor)升578.4個基點至13.444厘。
一周Shibor升292.9個基點至11.004厘。
一個月Shibor升178.4個基點至9.399厘。
三個月Shibor升39.5個基點至5.803厘。
19/06/13
上海銀行間同業隔夜拆放利率(Shibor)升206.4個基點至7.66厘。
一周Shibor升137.2個基點至8.075厘。
一個月Shibor升43.7個基點至7.615厘。
三個月Shibor升7.9個基點至5.408厘。
Liquidity is really low.
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China Money Rates Jump to Records as PBOC Lets Cash Crunch Build
"China’s benchmark money-market rates climbed to records as the central bank refrained from using reverse-repurchase agreements to address a cash crunch in the world’s second-biggest economy." ...
..."The seven-day repurchase rate, which measures interbank funding availability, rose 270 basis points, or 2.70 percentage points, to 10.77 percent in Shanghai, according to a daily fixing announced by the National Interbank Funding Center. That was the highest in data going back to March 2003. The one-day rate rose by an unprecedented 527 basis points to an all-time high of 12.85 percent, a separate fixing showed. An intra-day gauge of the one-day rate touched a record 25 percent. "...
..."The tightening is “emblematic of some of the shadow banking issues coming to the fore as well as some of the tight liquidity associated with wealth management product issuance, and the crackdown on some shadow channels,” Charlene Chu, Fitch’s head of China financial institutions, said in a June 18 interview."...
..."She earlier estimated China’s total credit, including off-balance-sheet loans, swelled to 198 percent of gross domestic product in 2012 from 125 percent four years earlier, exceeding increases in the ratio before banking crises in Japan and South Korea. In Japan, the measure surged 45 percentage points from 1985 to 1990, and in South Korea, it gained 47 percentage points from 1994 to 1998, Fitch said in July 2011. "...[/size=4]
source: http://www.bloomberg.com/news/2013-06-20/china-money-rate-jumps-to-record-as-pboc-holds-off-on-cash-boost.html
Credits to bloomberg.com
"China’s benchmark money-market rates climbed to records as the central bank refrained from using reverse-repurchase agreements to address a cash crunch in the world’s second-biggest economy." ...
..."The seven-day repurchase rate, which measures interbank funding availability, rose 270 basis points, or 2.70 percentage points, to 10.77 percent in Shanghai, according to a daily fixing announced by the National Interbank Funding Center. That was the highest in data going back to March 2003. The one-day rate rose by an unprecedented 527 basis points to an all-time high of 12.85 percent, a separate fixing showed. An intra-day gauge of the one-day rate touched a record 25 percent. "...
..."The tightening is “emblematic of some of the shadow banking issues coming to the fore as well as some of the tight liquidity associated with wealth management product issuance, and the crackdown on some shadow channels,” Charlene Chu, Fitch’s head of China financial institutions, said in a June 18 interview."...
..."She earlier estimated China’s total credit, including off-balance-sheet loans, swelled to 198 percent of gross domestic product in 2012 from 125 percent four years earlier, exceeding increases in the ratio before banking crises in Japan and South Korea. In Japan, the measure surged 45 percentage points from 1985 to 1990, and in South Korea, it gained 47 percentage points from 1994 to 1998, Fitch said in July 2011. "...[/size=4]
source: http://www.bloomberg.com/news/2013-06-20/china-money-rate-jumps-to-record-as-pboc-holds-off-on-cash-boost.html
Credits to bloomberg.com
Bro you in interbank mkt? 
cos seldom seen anyone look at money rates.
cos seldom seen anyone look at money rates.
yes any implication?
Think China looks gloomy. After all the hassels n bullshit, US economic recovery is the only real way out, yet there more competitions from the SE Asians now.
但係 SHIBOR movement 既 implication我覺得只有一樣野：中國到目前為止都係只有政策，未有市場。
I'm not in the interbank mkt, bro.
The Shibor rate definitely affect the repo, corporate bills and. Swap as well. Interbank offered rate is one of the cost of funding of a FI.
The Shibor rate definitely affect the repo, corporate bills and. Swap as well. Interbank offered rate is one of the cost of funding of a FI.
I'm not in the interbank mkt, bro.
The Shibor rate definitely affect the repo, corporate bills and. Swap as well. Interbank offered rate is one of the cost of funding of a FI.
icic. now seems everyone is in collateral damage... well if u do buy the story that chinese govt is trying to suffocate the shadow banking.
"icic. now seems everyone is in collateral damage... well if u do buy the story that chinese govt is trying to suffocate curb the shadow banking."
The govt try to curb the shadow banking/off balance sheet business but doesn't mean the china mid-tier banks or local banks will follow the guideline. As we can see the off balance sheet business is HUGE.
The govt try to curb the shadow banking/off balance sheet business but doesn't mean the china mid-tier banks or local banks will follow the guideline. As we can see the off balance sheet business is HUGE.
curb... sounds so smooth and hopeful
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