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Are money market rate spikes warning signs?

With largely positive factors in markets, there's no cause for panic at this juncture.

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Alibaba Group Holding Ltd's listing ceremony was held at the Hong Kong Stock Exchange in HK, China, on Tuesday. It raised about US$11 billion in a long- awaited HK stock sale.

ONE question we often hear today is whether the recent surges in money market rates in the US and Hong Kong - that is, the US repo rate (repurchase agreement rate) and the HIBOR (Hong Kong Interbank Overnight Offered Rate) - serve as warning signs of a major market dislocation ahead.

We...

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