Monday, March 7, 2011
Sunday, March 6, 2011
Saturday, March 5, 2011
Thursday, March 3, 2011
China Moves To Further Cement Renminbi Reserve Currency Status
In a surprising turn of events, today's biggest piece of news received a mere two paragraph blurb on Reuters, and was thoroughly ignored by the broader media. An announcement appeared shortly after midnight on the website of the People's Bank of China. Reuters provides a simple translation and summary of the announcement: "China hopes to allow all exporters and importers to settle their cross-border trades in the yuan by this year, the central bank said on Wednesday, as part of plans to grow the currency's international role. In a statement on its website www.pbc.gov.cn, the central bank said it would respond to overseas demand for the yuan to be used as a reserve currency. It added it would also allow the yuan to flow back into China more easily."
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Wednesday, March 2, 2011
Tuesday, March 1, 2011
Is A -0.5 Correlation Of Oil To Stocks Indicative Of A Market Top?
Reuters presents an interesting chart, which shows the historical correlation between oil (both Brent and Crude) and equities. After we had seen a positive correlation, either weak or strong, between the commodity and the risk asset for two and a half years, the correlation has finally flipped and gone negative.
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