What's Causing Concern in China's Banking Sector?
China’s central bank watchers have something new to puzzle over. The People’s Bank of China sold 50 billion yuan ($7.5 billion) of 14-day reverse-repurchase agreements on Wednesday, its first offering of anything with a tenor other than seven days since February. Officials are signaling they’re ready to curb leverage in the bond market by making it less profitable for investors borrowing to buy 10-year debt, according to Oversea-Chinese Banking Corp. and Haitong Securities Co. For Natixis SA though, the move shouldn’t be interpreted as anything other than an effort to build out a short-term yield curve. Manulife Asset Management Chief Economist Megan Greene discusses with Bloomberg's Anna Edwards on "Countdown."
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14:02 - Bloomberg Surveillance hosted by Tom Keene and Francine Lacqua. Guests include Norman Lamont, former U.K .Chancellor of the Exchequer, Huw Van Steenis, global head of strategy at Schroders PLC, and John Nilsson-Wright, senior research fellow at Chatham House. (Source: Bloomberg)