China Doves

By |2019-04-23T12:17:29-05:00April 23rd, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

A little less than three weeks ago, the overnight unsecured money market rate for Chinese renminbi (RMB), SHIBOR, had fallen sharply to 1.417%. This was among the lowest in history, though it has been happening more frequently since last summer. That sounds like a good thing, only the low rates don’t ever last. Instead, over [...]