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A new credit crisis could be springing up where no one is watching
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Friday, June 17, 2011
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From Zero Hedge:

Previously, we disclosed that FRA-OIS spreads in both the U.S. and Europe have been on a tear as a result of ongoing concerns that European liquidity may be frozen.

Following the previous post we decided to check in on Chinese liquidity. To our lack of surprise, we find Chinese availability of unsecured interbank lending has quietly dropped to the second worst of 2011, now that the rate on seven-day SHIBOR has hit 7.4%, the highest since the spike in early January, and a range that goes back all the way to the August 2007 quant market crash.

Keep a close eye on this...

Read full article...

More on China:

Ten reasons to short China now

The most important levels to watch in foundering Chinese stocks

Billionaire investor George Soros: China is "losing control" of its economy

Topics: Credit_Crisis | China | Banks
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