The biggest event of the weekend, if not the month, was China's FX reserve outflow update, which at $100BN was slightly better than the $120BN expected (it pushed China's reserves to the lowest in nearly 4 years) but it was in the "no man's land" between the BofA best case scenario ($37.5BN), and the GS worst case ($197BN).
NATO have announced plans to build-up its biggest military presence on the Russian border since the Cold War, in an effort to deter Russia from invading surrounding countries. As relations between Russia and NATO-backed allies continue to deteriorate, NATO have decided to bolster defenses on its eastern flank by stationing 40,000 troops permanently at Russia’s doorstep.
Authored by Pepe Escobar, originally posted Op-Ed at RT.com,
Excerpted from Doug Noland's Credit Bubble Bulletin,