December 27, 2011, 7:26 PM EST by Bloomberg News Dec. 27 (Bloomberg) — China’s benchmark money-market rate surged to the highest level in almost two months on speculation banks are raising cash to meet year-end capital requirements. the yuan traded near a 17-year high. the seven-day repurchase rate, which measures interbank funding availability, rose for a second day even as the central bank scrapped a sale of 28-day repurchase agreements that would have drained money from the financial system. “Banks’ [...]
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Beggs Spots Where Consistency Resides in Varied Wholesale Market
Ricky Beggs, Black Book As wholesale prices and weather conditions varied throughout the country, Black Book’s Ricky Beggs spotted one steady element in the lanes last week. Black Book’s managing editor explained that dealer feedback showed, “the consistency in all markets lies with the ‘low mileage and mid-priced units are strong,’ while the commercial accounts are mostly short of cars, thus enabling them to hold the line in their floors.” Earlier in his weekly video update “Beggs on the Used [...]
