I hear Obama has been learning to play the fiddle.
I’m no expert but...
If tapering was truly in the cards, the dollar would not be sinking vs the yen, seems to me. The prospect of rising rates would be supportive of the US dollar. In general at least.
In addition, Janet Yellen will soon be at the helm. You can be sure she will put the monetary pedal to the metal more than Ben did. And the fx markets know it.
Bubble, bubble, toil and trouble. The day of reckoning is here.
The big issue here is that Argentina, Turkey and Thailand are all experiencing political turmoil, and equities markets don't like political turmoil, especially in these three countries.
“The Peoples Bank of China , the central bank, has just ordered commercial banks to halt cash transfers.”
For three days if domestic currency, and nine days for conversions to foreign currency.
Hmmm... routine system maintenance eh? Right into the Lunar New Year holiday?
It seems there’s a problem over in China with their domestic banking system, whcih leads me to wonder if it’s time to say “Here it comes....”
HSBC to ‘protect’ customers by not letting them withdraw their money
If you bank at HSBC in England, dont plan on making any large cash withdrawals. At least not without a good explanation. Or, maybe even a permission slip.
Thats because a previously unannounced change in banking policy is blocking customers from making large withdrawals without evidence explaining why they need the money from their accounts.
They created that bubble by funding the carry trade and they understand perfectly well that it is a bubble. I think they would rather create and pop a series of smaller bubbles than let a big one go too far.
Well Japan has been in an Obama “recovery” for 15 or so years now.