renminbi – Heisenberg Report

Euro Surges On Draghi’s “Three Messages,” Dollar Eyes Janet, Yuan “Suddenly” Jumps

June 27, 20174 min read

Boy, I’ll tell you what, if you’re a central banker and you’re going to say something in public about monetary policy, you better make sure

“Bigly”: Reflation Is Back As Dollar Rises, Global Stocks Rally, Oil Eyes EIA Data

February 15, 20174 min read

Apparently, reports of the reflation meme’s demise were greatly exaggerated. It wasn’t too long ago when traders were beginning to wonder if the Trump trade

Markets Relieved After Trump/Abe Meeting, Reflation Narrative Intact

February 13, 2017February 13, 20173 min read

Well, it was all aboard the reflation train right out of the gate in early Asian trading last night with USDJPY jumping with 10Y yields

Bad Chinese

February 12, 20174 min read

By now, you’re probably aware that China is in a tough spot. As I’m fond of saying, Beijing is trying to do the impossible: they’re

Daily Kickstart (Chinese FX Reserves Fall Below $3 Trillion, Euro On The Back Foot, Senate Weighs Risk Of School Grizzly Attacks)

February 7, 2017February 7, 20176 min read

The “big” news overnight should have been Chinese FX reserves just like China should be back in the global spotlight more generally as it becomes increasingly

Big Trouble In Little China

January 20, 2017January 20, 20175 min read

Given that today is Donald Trump’s coronation, it’s somewhat ironic that we begin in China, where the Politburo was kind enough to tell us what they want us to think GDP is.

China’s Nasdaq Crashes

January 16, 20172 min read

The normalization of initial public offerings (IPOs) in China could help raise the financing efficiency of companies and direct more capital into the real economy,

Chart Check (Let’s All Move To Hong Kong)

January 15, 20171 min read

Are you a Chinese citizen who wants to circumvent Beijing’s increasingly onerous capital controls on the way to protecting yourself from the vicissitudes of the RMB? No

It’s A “Clearly Artificial Regime”: No Love For The PBoC

January 12, 20174 min read

Last week, we witnessed a truly epic short squeeze in Hong Kong. Soaring deposit rates, dramatic spikes in CNH HIBOR, and harrowing moves in forward points

Tuesday Chart Check (Bitcoin Edition)

January 10, 2017January 10, 20171 min read

Sure, many Chinese citizens are so desperate to move money out of the country that they’re willing to risk dealing with shady underground go-betweens using tea