China’s Central Bank Skips 7-Day Reverse Repo on Oct 10 as No Maturities Fall Due

A zero-repo day with no maturities is a routine liquidity non-event, not a policy signal — the PBOC's explanation that it reflected primary-dealer demand is the tell. What matters is the contrast it sets up: the absence of any other open market operation leaves the day's liquidity stance essentially unchanged, so the read-through depends entirely on what surrounding sessions show. Whether this pattern of matching operations to maturing volumes persists, or gives way to net injections or drains, is the open question worth tracking.