(Bloomberg) -- Beijing has pumped a record amount of short-term cash into its financial system to shore up lending in recent days, only to elicit a refrain...
-- Beijing has pumped a record amount of short-term cash into its financial system to shore up lending in recent days, only to elicit a refrain familiar to China watchers this year — not enough, more required.Signals in the money market show traders expect borrowing costs to remain elevated for the rest of the year, despite the cash injections.
But Becky Liu, head of China macro strategy at Standard Chartered Bank, is among those counting on the PBOC to deliver even more support. She expects it to come via multiple tools into year-end, including potential cuts to banks’ reserve ratios and continued cash injections via the medium-term lending tool.
Banks are under pressure to keep funding stable and their liquidity situation may not improve for the rest of the year, said Li Yishuang, an analyst at Cinda Securities. The bond supply surge and shrinking deposits after previous rate cuts may leave banks more reliant on PBOC support going forward, he said.
'Extremely bearish' chart formation signals the top 7 Big Tech stocks including Apple, Nvidia, and Tesla face elevated risk of a selloff New listings were up last months, but high mortgage rates, home prices, and insurance premiums are giving buyers cold feet.
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