Raising The Stakes, But Not The Level of Understanding

By |2017-02-07T18:54:22-05:00February 7th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

China’s Foreign Exchange Agency reported a $12 billion drawdown in that country’s foreign “reserves” holdings during January 2017. That was considerably less than the past three months, where all three saw more than $40 billion pulled out, nearly $70 billion in just November. These results are not in any way surprising, and are actually quite consistent with observed behavior during [...]