The ATF index gauges were stable on Monday, as the People’s Bank of China (PBoC) injected 200 billion ($28 billion) into the market via its medium-term lending facility (MLF). The MLF, which will mature in one year at an interest rate of 2.95%, is a tool that was introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral. The move is in addition to the PBoC’s seven reverse repo open market operations since June 3 totalling 650 billion yuan ($92 billion) in a bid to stabilise liquidity. The China Bond 50 Index, the flagship ... (full story)