Yuan Funding Costs Spike As China Changes FX Rules
The effects of China's rules-change proposals around the Yuan Fix are already starting to show in the FX, money markets as one-week funding costs have exploded to the annualized equivalent of 14%...
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People's Bank of China
Trumpquake: Futures Wipe Out Month's Gains In One Session, VIX Spikes
A risk-off mood dominated the overnight session amid growing concern over the turmoil engulfing the Trump administration, as fresh allegations add to deepening political scandals in Washington, the latest coming from Tuesday's NYT report citing former FBI director Comey’s memo which raises possibility of obstruction of justice, an impeachable offense. The dollar, already in retreat after a report that the U.S.
China Capitulates: Injects $25 Billion Into Liquidity-Starved Banks To "Appease Investors"
Is China's push to deleverage its financial system over?
China Resorts To “Old School” Tactics To Support Inflows
Submitted by Gordon Johnson of Axiom
Is the PBoC “Tweaking” the FX Reserve Data to Improperly Show Foreign Inflows?
Over the past 30 months when the PBoC sold/brought dollars (evidenced by a m/m decline in PBoC funds outstanding for FX), 66.7% of the time reported FX reserves fell/rose.
The Great Shadow Unwind: Chinese Entrusted Loans Post First Decline In 10 Years
With everyone, including Pimco, now acknowledging what we said most recently in February, namely that China's credit impulse is the main, if not only variable, that determines the fate of global reflation ...
... the latest credit numbers released by the PBOC overnight very closely watched by macro traders around the globe in light of the ongoing liquidity discussions surrounding the deleveraging narrative.