Something Just Broke In China As Repo Rate Soars To 1,000% Overnight

This creeping "Ice Nining" of China's banking system, and its closest encounter with the proverbial "Lehman moment" yet, came overnight when, inexplicably, the four-day repo rate on China’s government bonds (i.e., the cost for investors to pledge their Chinese government bond holdings for short-term funding) on the Shanghai exchange briefly spiked to 1,000% in afternoon trading!

 

 

 

 

 

https://www.zerohedge.com/news/2019-07-19/something-just-broke-china-repo-rate-soars-1000-overnight

 

 

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