China “Crosses Rubicon” With Stock Bailout; BofA Says PBoC Risks “Hurting Its Credibility”

by Tyler Durden
ZeroHedge.com
07/05/2015

“The A-share market may not bottom until the government, possibly via the PBoC, becomes the buyer of the last resort. It seems that the government might have just taken the first step in that direction on Sunday night with PBoC’s promise to provide liquidity support to stabilize the market. If PBoC becomes the main source of market-supporting liquidity, we expect the central bank’s credibility to be hurt.”

The Rest…HERE

This entry was posted on Sunday, July 5th, 2015 at 10:48 pm and is filed under China, Economics, Government Evil. You can follow any responses to this entry through the RSS 2.0 feed.