More TIC December: More Shadow(s) Than Shadow Money

By |2019-02-20T15:46:15-05:00February 20th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The TIC data for December 2018 starts out well enough, exactly the way it should. The headline says foreigners sold a record amount of US$ assets in that month. Anyone paying attention during it would be the opposite of shocked. Everyone sold anything they could in December. It follows from the idea of dollar shortage. [...]