And that's not all! Also, People's Bank of China OMOs:

  • To inject 50 bn yuan through 7-day reverse repos
  • To inject 50 bn yuan through 14-day reverse repos
  • To inject 50 bn yuan through 28-day reverse repos

Stronger CNY against the USD today from the Bank

Back to the OMOs:

  • The People's Bank of China has drained 150bn yuan from markets this week (net)
  • Continuing the drains (last week 625bn yuan drained)

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So, no one has said "Oh wow! The Oils are back, thank-you for letting us know Eamonn"

OK, fine. The beatings will continue until morale improves: