Yuan

A Biased 2017 Forecast, Part 2

"Our comforting conviction that the world makes sense rests on a secure foundation: our almost unlimited ability to ignore our ignorance."

Yuan Dumps, Bitcoin Jumps As China Researchers Suggest "One-Off Devaluation" & Capital Controls

As we have detailed numerous times recently, the recent move in Bitcoin has been strongly suggesting increasing fears of capital controls and/or expectations of a looming (and quite notable) devaluation of the Yuan against the US Dollar. Tonight saw China's largest nationalist tabloid suggesting that China should consider one-off yuan devaluation to keep the currency stable at equilibrium level. Offshore Yuan is tumbling - to new record lows.

Bitcoin Surges Above $1,000 As China Unveils New Capital Controls

Chinese demand for bitcoin overnight finally proved too great, and US markets had no choice but to arb the difference. So with Bitcoin trading in China at an implied price of over $1,050 at this moment, the digital currency finally soared above $1,000 in the US as well, trading just around $1,024 on Coinbase as of this moment.

European Stocks Greet The New Year By Rising To One Year Highs; Euro Slides

While most of the world is enjoying it last day off from the 2017 holiday transition, with Asia's major markets closed for the New Year holiday, along with Britain and Switzerland in Europe and the US and Canada across the Atlantic, European stocks climbed to their highest levels in over a year on Monday after the Markit PMI survey showed manufacturing production in the Eurozone rose to the highest level since April 2011.

Bitcoin Soars Above $1000 In China

2017 is off to a good start if you are holding Bitcoin as volumes continue to surge through Chinese Bitcoin exchanges amid fears of increased crackdowns on foreign exchange transfers in the new year. In the last 24 hours, BTC China has seen prices spike above 7,100 yuan (well over $1000 at the onshore rate exchange).

2016 Greatest Hits: Presenting The Most Popular Articles Of The Past Year

The eighth anniversary of Zero Hedge is just around the corner, and so, for the eighth year in a row we continue our tradition of summarizing what our readers found to be the most relevant, exciting, and actionable news of the year. We bring you the articles that you, dear reader, found to be the most interesting in the past 365 days.

China Hits A Fork In The Road

There’s simply too much debt all throughout the system, and it’s due for a behemoth restructuring. You look at some of the numbers and graphs, and you wonder: what were they thinking?

3 Things: Records Are Records For A Reason

First, 'record levels' of anything are records for a reason. It is the point at which previous limits were reached. Therefore, when a ‘record level’ is reached, it is NOT THE BEGINNING, but rather an indication of the MATURITY of a cycle. While the media has focused on employment, record stock market levels, etc. as a sign of an ongoing economic recovery, history suggests caution.  The charts below suggest that current levels should be a sign of caution rather than exuberance.

Three Mini-Bubbles Are Bursting

The world has gotten so used to ultra-low interest rates that even economists and money managers seem to be shocked by what happens when rates start creeping back towards normal levels. Some of the mini-bubbles that formed in an essentially free-money environment are now starting to leak.