Thursday, January 5, 2017

Zero Hedge — Chinese Overnight Funding Rate Hits Unprecedented 105%

It appears Chinese authorities are deadly serious about crushing shorts and halting speculative outflows as the liquidity freeze in Chinese markets has sent overnight deposit rates to a record 105% as one or more bank's utter desperation for funds looks like a giant fat finger.
Today's spike is up 45 percentage points from yesterday's 60% rate...
Zero Hedge
Chinese Overnight Funding Rate Hits Unprecedented 105%
Tyler Durden

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