I posted this back on Monday this week:
The news is still spreading around the place.
Wall Street Journal now, citing Goldman Sachs:
- China to Issue Central Bank Bills in Hong Kong Amid Yuan Weakening
- an offer of 60 billion yuan, equivalent to $8.18 billion, of six-month bills to be held on January 15 for settlement on January 17
- A planned release of large amounts of central bank accounts in Hong Kong should drain off-shore yuan liquidity and discourage onshore yuan short positions, Goldman Sachs' Economics Research team said.
I guess the new piece is proof of the amount, 60bn yuan. Table size. But we already knew it was the biggest ever, see my post linked above.
Expect it to pay to read ForexLive.
Our correspondent in Beijing 😉
