1W and 2W SHIBOR Rates Surge Over 9%, Highest Since 2007

We've been following the SHIBOR with ZeroHedge for the past several days, and here we are at it again. The 1-week and 2-week SHIBOR rates are above 9% now:
Indeed, as of tonight, both 1 and 2 week SHIBORs are above 9%. The highest 1 week Shibor has ever been is just over 10% back in 2007, right after the quant crash in August of that year. We are confident this all time high will be taken out in a few days.

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