FAST FIVE: China Repo Rates Soar To 15 Month High After PBOC Warns Of Asset Bubbles, Drains Liquidity

Earlier in the day the PBOC withdrew a net 78 billion yuan via open-market operations, the most in two weeks.

It wasn’t just the PBOC’s liquidity drain however: the rate spike was also catalyzed by a stark warning from PBOC adviser Ma Jun, who spoke at a wealth management forum where according to the 21st Century Business Herald said bubbles have formed in the stock and property markets, and he proposed a shift in monetary policy.…

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