dollar decay

It’s Never So Easy Getting Out

By |2017-10-30T18:54:08-04:00October 30th, 2017|Markets|

Hong Kong carefully built its sterling reputation (pun intended) over many years and decades. Through mostly careful rule and careful adherence to rules, there was no imbalance too big or too tough that the HKMA could not readily handle or absorb. The result was a condition that every central bank and monetary authority should strive for. As I wrote back [...]

HIBORMania (confirmed)

By |2017-10-02T18:44:55-04:00October 2nd, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

At the end of Q3 2015, on September 29 that year, the overnight HIBOR (Hong Kong unsecured delivery of HKD) rate fixed at 0.0507%. That was barely changed from the days and even months leading up to that point even though it was the last of regular trading before the start of China’s Golden Week. Despite enormous illiquidity throughout the [...]

Location Transformation or HIBORMania

By |2017-09-25T12:29:41-04:00September 25th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

The Communist Chinese established their independence on September 21, 1949. The grand ceremony commemorating the political change was held in Tiananmen Square on October 1 that year. The following day, October 2, the Resolution on the National Day of the People’s Republic of China was passed making October 1to be China’s National holiday. It typically kicks off the second of [...]

Defying Labels

By |2017-06-15T16:29:47-04:00June 15th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Last month US Industrial Production rose rather quickly. Gaining more than 1.1% month-over-month, it might have appeared that the US economy once dragged into downturn by manufacturing and industry was finally about to experience its belated upturn. But frustration is how it has always gone, not just in this latest phase but for all phases since around 2011. Each good [...]

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