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Rate On China's New Overnight Liquidity Tool Comes Below Estimates, Hints At Imminent Easing

Last week we showed four China-linked charts which made it very clear that, laughable flatlined 5% GDP notwithstanding, China's economy appears to be on the verge of yet another collapse (explaining the unprecedented drop in both Chinese oil imports and refining output): between autos, real estate, banks and overall…

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