People's Bank Of China

As China Liquidates US Treasuries, It is "Gobbling" Up Japanese Government Bonds

China is on a shopping spree, and has been "gobbling" up Japanese government bonds, adding that Beijing bought close to a net 9 trillion yen ($86.6 billion) worth of JGBs in the January-August period, more than tripling the amount from the same period last year. Incidentally that's almost equivalent to the number of US Treasurys sold by China.

China Bond Yields Drop To Decade Lows As Economy Sinks After New Loan Creation Tumbles

Following an unprecedented credit expansion by China, which in the first few months of 2016 injected well over a trillion dollars in total credit, the payback - as previewed here - is coming. As reported earlier, overnight China reported that a swath economic activity, from factory output to investment and retail sales, slowed last month, reflecting renewed weakness in China’s economy, resulting in10Y bond yields dropping to near all time lows.

Kyle Bass Shares The "Stunning" Thing A Central Banker Once Told Him

"I had a fascinating out of body experience meeting with one of the world's top central bankers in a private meeting about three years ago. it was one of those moments where I...it was one of those epiphanies almost, where it's something you and I knew, but hearing him say it, call it one of the four top central bankers in the world, it was a jarring experience for me..." - Kyle Bass

The Biggest Source Of Global Growth In 2016 Is About To Hit A Brick Wall

crash car testAfter issuing a record $1 trillion in combined bank and shadow loans in the first quarter which just like during the financial crisis provided a short-term catalyst for global growth (and sent China's debt/GDP to new all time highs) China's dramatic debt issuance binge is about to hit a brick wall. The reason: combined new loans in April by the Big Four state-owned banks were more than halved from March's level.

China Launches Yuan Gold Fix To "Exert More Control Over Price Of Gold"

Overnight a historic event took place when China, the world's top gold consumer, launched a yuan-denominated gold benchmark on Tuesday as had been previewed here previously in what Reuters dubbed "an ambitious step to exert more control over the pricing of the metal and boost its influence in the global bullion market."

S&P Revises China's Credit Outlook To Negative On Growth, Debt Concerns - Full Text

Ripley's believe it or not world continues. Earlier today, Hong Kong's Hang Seng market entered a bull market, rising 20% from its February lows, just as Hong Kong retail sales plunged 20.6%, the bigest drop since 1999 and then moments ago, in a move that pushed the Chinese Yuan stronger at least initially, S&P revised its Chinese outlook to negative, saying the economic rebalancing is likely to proceed more slowly than had expected over next 5 years and warning about China's debt load.

Hugh Hendry: "If China Devalues By 20% The World Is Over, Everything Hits A Wall"

"Tomorrow we wake up and China has devalued 20%, the world is over. The world is over. Euro breaks up. The world is over. The euro breaks up. Everything hits a wall. There's no euro in that scenario. The US economy, I mean everything hits a wall! Everything hits a wall! It's a 'Mad Max' movie, right. OK, China gets to be the king in 'Mad Max' world. How appealing is that?"

G-20 Needs To "Man Up" Or Risk Sparking Market Chaos, Citi Warns

“Keeping the previous language would be very disappointing and would be viewed as either complacent or reflecting policy paralysis. [They need to] man up and tell member countries that monetary policy should be accompanied by fiscal expansion.”