China averts liquidity squeeze by pumping US$92 billion of funding into banks over five weeks to spare the havoc on bonds

• The People’s Bank of China injected a net US$84 billion in one-year funding and US$8 billion of short-term cash into the financial system in the final five weeks of 2020 alone
• The PBOC is likely to maintain sufficient liquidity around the Lunar New Year holiday in mid-February, when demand for cash is typically high