Spot The Non-PBOC Intervention Days

Tyler Durden's picture

For the first time in a week, the PBOC has decided not to intervene in the interbank liquidity market... the result so far... 7-day repo jumped 157bps to 6.5%... yep, clearly the "liquidity crisis" is behind us... as long as China does not "taper" on any given day by doing nothing instead of injecting liquidity.