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Monday, Jul 1
The Chinese cash crunch continued to ease today, with the benchmark seven-day repurchase...
The Chinese cash crunch continued to ease today, with the benchmark seven-day repurchase agreement rate falling to 5.43% from 6.16% on Friday, although it's still considerably higher than the average of 3.3% this year before the liquidity squeeze started in late May. The situation was expected to soften with the start of Q3, as the end of Q2 saw banks rush to raise money to meet capital requirements. However, rates aren't expected to drop back to the "old normal."