Reuters: China’s interbank repo turnover hits record

The turnover of repurchase agreements (repos) traded in China’s interbank market hit a record high on Wednesday, official data showed on Thursday, fuelled by hopes for further monetary easing measures and improved liquidity conditions.

Total turnover rose 193.9 billion yuan ($28.05 billion) to 8.22 trillion yuan on Wednesday, data from the National Interbank Funding Center showed, the highest on record.

Investors built up bond leverages as they bet the central bank was likely to maintain ample liquidity conditions, traders said, as a raft of April data pointed to an economy losing momentum after the initial post-COVID bounce and lifted hopes of more monetary easing measures.

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