It is a real toss-up as to which generates more bizarre comment in the international press: Beijing’s long-feared dumping of US Treasuries, or the use and value of the PBoC’s central bank reserves. The revelation last week that Chinese holdings of US Treasury obligations fell in December by $34.2 billion, to $755.4 billion, generated a [...]
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Tags: Balance sheets, Policy, wages
Posted in Balance sheets, Currency regime, PBoC, Reserves • 151 Comments »
Another terrible day on the stock market saw the SSE Composite, led kicking and screaming by energy and financial companies, trade more or less straight down by 3.2% to close the day at 2203. The brilliant autumn weather in Beijing (and the best week for air quality I have seen in seven years of living [...]
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Tags: Consumer demand, Inflation, Inventories, Policy
Posted in Inflation, PBoC • 1 Comment »