(Bloomberg) -- China’s government-bond investors will soon be looking for reassurance from the central bank that there’s plenty of cash in the financial system.
The country will see a “liquidity hole” of 2.8 trillion yuan ($400 billion) in January, in large part because people across the nation will withdraw cash for the Lunar New Year holiday, according to Guotai Junan Securities Co. That means bond traders expect the central bank to unlock funds to avoid the liquidity-driven panic seen in October, when the benchmark 10-year yield spiked the most in six months.
Some analysts expect the People’s Bank of China to cut the amount of cash lenders must hold as reserves. It could also opt to inject funds through its daily open-market operations, others say. But no analyst is calling for a massive net liquidity injection or a benchmark interest-rate cut, as Beijing won’t want to risk inflating prices when the consumer price index is at a seven-year high. That’s capping gains for government bonds, as it has for months.
The country will see a “liquidity hole” of 2.8 trillion yuan ($400 billion) in January, in large part because people across the nation will withdraw cash for the Lunar New Year holiday, according to Guotai Junan Securities Co. That means bond traders expect the central bank to unlock funds to avoid the liquidity-driven panic seen in October, when the benchmark 10-year yield spiked the most in six months.
Some analysts expect the People’s Bank of China to cut the amount of cash lenders must hold as reserves. It could also opt to inject funds through its daily open-market operations, others say. But no analyst is calling for a massive net liquidity injection or a benchmark interest-rate cut, as Beijing won’t want to risk inflating prices when the consumer price index is at a seven-year high. That’s capping gains for government bonds, as it has for months.
“Rather than looking desperate, or like he’s clinging to the past, he’s spent the 2010s simply looking...great”
@donetodeath on Liam Gallagher: "Who else can do a few lines, wear a giant white parka, and balance a tambourine on their head while singing in front of 100K people at Glastonbury but also expertly roast his brother Noel on Twitter?"
阅读地址：https://t.cn/AiDmVGtt
@donetodeath on Liam Gallagher: "Who else can do a few lines, wear a giant white parka, and balance a tambourine on their head while singing in front of 100K people at Glastonbury but also expertly roast his brother Noel on Twitter?"
阅读地址：https://t.cn/AiDmVGtt
昨晚王者真开心，于是今天考四级心态崩了，首先是七点多的闹钟没有响！我还是在舍友说“你点解甘早噶”的声音中惊醒！8.22了已经[微笑]马上洗脸刷牙，心态崩了一半了[泪]
然后去到教室，监考老师抓着我问专业，问我学什么？？此时脑袋一片空白[微笑]到了发卷子，我准备了很多主题式作文什么“some people think that”,结果考了写信[拜拜][拜拜]醉了，听力随缘，匹配做到11点[拜拜]15分钟做后面两篇阅读（对了答案只对了两个[拜拜]）剩下五分钟翻译（姓名？姓？名？[拜拜][拜拜]什么玩意？？我怀疑他在刁难我）在监考老师说话的时候涂了第一个阅读，太难了[拜拜][拜拜]
已经做好了明年再战的准备了[二哈][二哈][二哈]
然后去到教室，监考老师抓着我问专业，问我学什么？？此时脑袋一片空白[微笑]到了发卷子，我准备了很多主题式作文什么“some people think that”,结果考了写信[拜拜][拜拜]醉了，听力随缘，匹配做到11点[拜拜]15分钟做后面两篇阅读（对了答案只对了两个[拜拜]）剩下五分钟翻译（姓名？姓？名？[拜拜][拜拜]什么玩意？？我怀疑他在刁难我）在监考老师说话的时候涂了第一个阅读，太难了[拜拜][拜拜]
已经做好了明年再战的准备了[二哈][二哈][二哈]
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