People's Bank of China has gauged demand for 7, 14, 28 and 63 day reverse repos and deciding ...
- To inject 80bn yuan through 7 day reverse repos
- To inject 40bn yuan through 14 day reverse repos
- To inject 60bn yuan through 63-dayers
net drain of 80bn yuan (after accounting for maturities)
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A little earlier I posted thoughts from Commerz on the PBOC seeking to deflate bubbles, which sort of sets the stage for the sort of liquidity reductions we are seeing. This won't be a straight line of course, but the trend will be 'bubble deflating'.
