Loading ...China Launches CNY500 Billion In “Stealth QE”
Tyler Durden’s pictureSubmitted by Tyler Durden on 09/16/2014 11:36 -0400
It has been a while since the PBOC engaged in some “targeted” QE. So clearly following the biggest drop in the Shanghai Composite in 6 months after some abysmal Chinese economic and flow data in the past several days, it’s time for some more. From Bloomberg:
CHINA’S PBOC STARTS 500B YUAN SLF TODAY, SINA.COM SAYS
PBOC PROVIDES 500B YUAN LIQUIDITY TO CHINA’S TOP 5 BANKS: SINA
PBOC PROVIDES 100B YUAN TO EACH BANK TODAY, TOMORROW WITH DURATION OF 3 MONTHS: SINA
Just as expected, the Chinese “derivative” currency, the AUD, goes vertical on the news, and the S&P 500 goes vertical alongside:
more http://www.zerohedge.com/news/2014-09-16/china-launches-cny500-billion-stealth-qe