I posted on this back on Monday this week:
The news is still being popped up around the place.
Wall Street Journal now, citing Goldman Sachs:
- China to Issue Central Bank Bills in Hong Kong Amid Weakening Yuan
- tender of 60 billion yuan, equivalent to $8.18 billion, of six-month bills to be held on Jan. 15 for settlement on Jan. 17
- planned issuance of a large amount of central bank bills in Hong Kong should drain offshore-yuan liquidity and discourage offshore-yuan short positions, said Goldman Sachs’ Economics Research team.
I guess the new bit is the confirmation of the amount, 60bn yuan. A record amount. But we already knew it’d be the largest ever, see my post linked above.
Guess it pays to read ForexLive.
Our correspondent in Beijing 😉
