Credit Writedowns

News links for 17 Mar 2014

The PBOC announced a band-widening for USD/CNY over the weekend, doubling the allowable band around the fix rate to +/- 2%. Off of Friday’s fix, the new band is 6.01-6.26 vs. 6.07-6.20 previously. The USD/CNY band was last widened in April…

Credit growth in the US seems to have stabilized and may be on the rise. It's worth mentioning that the bottom in loan growth just happened to correspond to the start of Fed's taper. Coincidence? Maybe. But why is corporate America…

News links for 15 Mar 2014

By Doug French, Contributing Editor, Casey Research Figuring out what’s going on in Ukraine is like following the plot of Tinker Tailor Soldier Spy. Bloomberg reports Viktor Yanukovych’s ouster as “Moscow-backed,” while Al Jazeera calls…

US data have been better European periphery market access continues to improve Dollar weakness may be China-related Gold continues to get safe haven bid China’s slowing more likely to be abrupt Ukraine has become a military issue;…

Talk that Russia could be behind the bulk of the more than $100 bln drop in the Federal Reserve's custody holdings for foreign central banks, in the week ending Wednesday has many observers scratching their heads. This would represent about…

News links for 14 Mar 2014

As a confirmation of a significant downward adjustment to China's growth, a battery of economic reports yesterday morning all came in materially below expectations.

By WIn Thin and Ilan Solot 1) The annexation of Crimea by Russia represents an important escalation of the crisis 2) China has re-emerged as a concern for markets 3) Turkish political tensions are rising again ahead of March 30 local…