Tag Archives: G20

Overview: The Bank of Japan Governor Ueda hinted the world's third-largest economy may exit negative interest rates before the end of the year. This sparked the strongest gain in the yen in a couple of months and lifted the 10-year yield to nearly 0.70%. In an uncoordinated fashion, Chinese officials stepped their rhetoric and indicated that corporate orders to sell $50 mln or more will need authorization. This helped arrest the yuan's slide. The Australian dollar...

Policymakers have often said that exchange rates should reflect fundamentals. What does that really mean? Can they do anything but that? It begs the question of which fundamental factors they should reflect. Therein lies the rub. We are still struck by the latest Bank for International Settlements figures. Their survey found that the average daily turnover in the foreign exchange market was $7.5 trillion a day. World trade last year was about $22.5 trillion. The...

4th IFAWG Meeting — G20 Side Event on Macro-Financial Implications of CBDC, Bali

Nicht nur die USA und China errichten Handelshindernisse: Treffen zwischen den Delegationen beider Länder am G-20-Gipfel in Buenos Aires (1. Dezember 2018). Foto: Pablo Martinez (Keystone) Erneut hat der Handelskrieg zwischen den USA und China in der letzten Woche die Weltpolitik und die Kapitalmärkte in Atem gehalten. Beim Treffen der G-20-Staaten wurde zwar ein vorübergehender Waffenstillstand vereinbart. Glaubwürdig erschien das nicht: Die Sorgen vor einer nächsten Eskalationsstufe...

I had the privilege to join Alix Steel, the Bloomberg anchor, and Laird Landmann from TCW on the set earlier today. Here is the link to the 2.5-minute clip. The issue is the dollar’s outlook. The greenback had looked to be on the verge of breaking out higher before the US President expressed disapproval with the Fed rate hikes and, then the following day, aggressively accused the EU and China of manipulating their...

On 17 April, Turkish news publication Ahval published a report stating that during 2017, Turkey withdrew 26.8 tonnes of gold that it had stored in the vaults of the New York Federal Reserve, and moved this gold under the custodianship of the Bank of England and the Bank for International Settlements (BIS). The source of the Ahval report was a Turkish language article from the popular Hürriyet newspaper in Turkey....

Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for? - Click to enlarge It is a decade since the first tremors of what would become the Great Financial Crisis began to convulse global markets. Across the world from China and South Korea, to Ukraine, Greece, Brexit Britain and Trump’s America it has shaken...

Summary: Confrontation with China has been dialed down. Criticism of the Fed has been walked back. There is less talk about the dollar. Employment data has been embraced. As a candidate, Trump took a hardline. China is manipulating its currency. The Federal Reserve is acting to help Clinton get elected. The jobs data is fake. Over the past week, the each of these three positions has been considerably softened. It is...

Submitted by Michael Shedlock via MishTalk.com, For all the shock, horror, and aghast of global warm-ongers, comes a startling revelation: It’s Irrelevant if US Pulls Out of Paris Accord. Donald Trump has sent his clearest message yet about his plans for reshaping US policy on global warming by choosing a chief environmental regulator who has questioned the science of climate change. But leading experts say the...

Submitted by Michael Shedlock via MishTalk.com, For all the shock, horror, and aghast of global warm-ongers, comes a startling revelation: It’s Irrelevant if US Pulls Out of Paris Accord. Donald Trump has sent his clearest message yet about his plans for reshaping US policy on global warming by choosing a chief environmental regulator who has questioned the science of climate change. But leading experts say the...