China rate swaps drop to levels not seen since ’08 as PBoC eases cash squeeze

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When policy makers start panicking markets stop panicking.  So May doomsayers on China ( FXI , quote ) right now and frankly there is little different being said by PBoC than they ever have.

Image courtesy Elyyo http://commons.wikimedia.org/w/index.php?title=User:Elyyo&action=edit&redlink=1

China's short term rates have come way in tonight with China 1 year swaps touching a record 5.06% for June 20 th .


The 1 year China swaps dropped by 36 BPS to 3.71% its lowest level since June 14.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



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