china’s_monetary_policy_zigs_where_u.s._zags_-_wsj.pdf |
China bonds plummet: There was comforting data in the People’s Bank of China May monetary statement but there was also a massive plunge in the growth of broad money supply, reports Steve Wang and Liu Hsiu Wen. The shockingly cruel numbers, that saw the fledgling corporate bond market’s biggest outright contraction in history, mean a quarter trillion yuan (US$36.7 billion) of liquidity will have been sucked out of the economy within a month. READ THE STORY HERE
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