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As China’s Treasury Holdings Fall For Third Month, U.S. Foreign Policy Seen Accelerating De-Dollarization
Over the weekend, on the sidelines of the IMF annual meetings in Bali, Indonesia, Steve Mnuchin expressed a lot of confidence in the world's appetite for U.S. debt at a time when the deficit is ballooning thanks to the Trump administration's plunge into late-cycle fiscal stimulus.
“We have plenty of buyers for Treasurys”, Steve said, adding that when it comes to rumors that China might just decide to stop buying (or worse, start liquidating) in light of Trump's aggressive trade posturing,
Right here – foreign exchange reserves surged by 0.44% – is what I don’t get about this macro shit. How on earth is less than one half of one percent a ‘surge’? I’m fully prepared to be schooled for I know nothing about the mysterious MACRO. It seems that rather tiny things are, or can be, a big deal in that parallel universe.
If you come out of your monastery and reread the text: “the increase in the RMB share would imply that CBs bought the equivalent of $55bn in RMB assets over Q2, compared to less than $17bn in Q1.”