Clik here to view.
SAFE Plus TIC Equals TED?
China’s State Administration of Foreign Exchange (SAFE) reported a slight decline, -$3.6 billion, in foreign “reserve” assets in July. That followed a $13 billion “inflow” in June, which was the...
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Why Different Hasn’t Been Different
Rumors persisted in China of new foreign currency restrictions from state authorities now trying to crack down on corporate activity. The story was picked up in many news outlets all over the world,...
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A Plea For Answers First
For all the fuss about speculators in Hong Kong, China’s central bank doesn’t seem very capable of handling them. Last week the offshore RMB money rate was driven once more to ridiculous proportions,...
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Raising The Stakes, But Not The Level of Understanding
China’s Foreign Exchange Agency reported a $12 billion drawdown in that country’s foreign “reserves” holdings during January 2017. That was considerably less than the past three months, where all three...
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The Very Important Task Of Trying To Figure Out What Happened In The Middle
The whole point of any “stimulus” is to buy time. The idea is to keep the economy busy or, in the case of more purely monetary policy, happy during that time so that the economy on the demand side can...
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China And Reserves, A Straightforward Process Unnecessarily Made Into A Riddle
The fact that China reported a small increase in official “reserves” for February 2017 is one of the least surprising results in all of finance. The gamma of those reserves is as predictable as the...
View ArticleClik here to view.
The Noose Only Tightens
Earlier this month, China’s State Administration of Foreign Exchange (SAFE) reported a large increase in official reserve holdings. The biggest “inflows” in several years has, as you would expect, led...
View ArticleClik here to view.
SAFE Plus TIC Equals TED?
China’s State Administration of Foreign Exchange (SAFE) reported a slight decline, -$3.6 billion, in foreign “reserve” assets in July. That followed a $13 billion “inflow” in June, which was the...
View ArticleClik here to view.
Why Different Hasn’t Been Different
Rumors persisted in China of new foreign currency restrictions from state authorities now trying to crack down on corporate activity. The story was picked up in many news outlets all over the world,...
View ArticleClik here to view.
A Plea For Answers First
For all the fuss about speculators in Hong Kong, China’s central bank doesn’t seem very capable of handling them. Last week the offshore RMB money rate was driven once more to ridiculous proportions,...
View ArticleClik here to view.
Raising The Stakes, But Not The Level of Understanding
China’s Foreign Exchange Agency reported a $12 billion drawdown in that country’s foreign “reserves” holdings during January 2017. That was considerably less than the past three months, where all three...
View ArticleClik here to view.
The Very Important Task Of Trying To Figure Out What Happened In The Middle
The whole point of any “stimulus” is to buy time. The idea is to keep the economy busy or, in the case of more purely monetary policy, happy during that time so that the economy on the demand side can...
View ArticleClik here to view.
China And Reserves, A Straightforward Process Unnecessarily Made Into A Riddle
The fact that China reported a small increase in official “reserves” for February 2017 is one of the least surprising results in all of finance. The gamma of those reserves is as predictable as the...
View ArticleClik here to view.
The Noose Only Tightens
Earlier this month, China’s State Administration of Foreign Exchange (SAFE) reported a large increase in official reserve holdings. The biggest “inflows” in several years has, as you would expect, led...
View ArticleClik here to view.
China’s (not) SAFE
In another sign of repeating 2015, the Chinese are beginning to mobilize their “reserves” again. Three years ago, in a futile attempt to staunch CNY’s stubborn “devaluation” various government...
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Not This Again: Time For Petroyuan Revisit
Does anyone remember the petroyuan? It doesn’t appear so, though not because the thing disappeared rather due to the fact that it didn’t. It was a really big deal for a time, pretty much all of 2018....
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From China: Dollar, Deflation, And The RRRest
It’s not necessarily a discrepancy so much as maybe looking at the same thing from a different point of view. China’s State Administration of Foreign Exchange (SAFE) reports on, among other things,...
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China More and More Beyond ‘Inflation’
If only the rest of the world could have such problems. Chinese consumer prices were flat from February 2022 to March, even though gasoline and energy costs predictably skyrocketed. According to...
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