The People’s Bank of China (PBOC) is sucking out liquidity from the financial system in a bid to rein in leverage. The central bank drained a net 150 billion yuan ($23 billion) on Thursday – the largest amount since October – and has withdrawn a total of $23 billion from the system, according to Bloomberg. As a result, the spread between China’s 10-year government bond yield and the overnight rate has now narrowed to 16 basis points versus 263 basis points in late December. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Australia: Alternative data snapshot: recovery intact – ANZ FX Street 1 year The People's Bank of China (PBOC) is sucking out liquidity from the financial system in a bid to rein in leverage. The central bank drained a net 150 billion yuan ($23 billion) on Thursday – the largest amount since October – and has withdrawn a total of $23 billion from the system, according to Bloomberg. As a result, the spread between China's 10-year government bond yield and the overnight rate has now narrowed to 16 basis points versus 263 basis points in late December. Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
