currency intervention

The PBOC’s Involuntarily Enormous Bet

By |2019-07-19T17:25:27-04:00July 19th, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Central bankers are not nimble traders. By their very bureaucratic nature, they leave big muddy footprints all over markets. Sometimes that is by design, a show of force to scare some evil speculators into going straight. Other times, it just can’t be helped. The way it works in China, the autocratic structure doesn’t leave much [...]

Clocking What Isn’t Chinese Stimulus

By |2019-06-17T16:39:46-04:00June 17th, 2019|Bonds, Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

One of the very few central pillars supporting the hopes for a second half rebound was China’s “stimulus.” Since we’ve been conditioned to just accept whatever a central bank does as equal to it, throughout the last thirteen months since the first RRR cut was initiated that one as well as the four which followed [...]


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