With the Fed holding steady and not signaling a July hike, and the PBoC's targeted liquidity having a positive effect, the odds of a RRR cut have declined.
The central bank inject 60 billion in liquidity on Monday.
7-day repo rates have been coming down, Shibor steady.
Although the central bank appears to have avoided another cash crunch, the asymmetric monetary policy in the U.S. and China will keep the pressure on throughout 2016.
DTCJ: 6月资金面“魔咒”破灭,降准概率下降!
Personal Spending Jumps More than Income in March
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Disposable (after tax) income rose 0.5 percent in March. Real (inflation
adjusted) income rose 0.2 percent. The rise in spending outpaced the rise
in income.
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