Reuters: The global stock market rout of the past week was sparked by concerns over a possible interest rate rise by the U.S. Federal Reserve and not by the devaluation of China's yuan currency, a senior Chinese central bank official told Reuters on Thursday.
"China's exchange rate reform had nothing to do with the global stock market volatility, it was mainly due to the upcoming U.S. Federal Reserve monetary policy move," Yao said.
Ref: Bloomberg how China is keeping treasuries cheap. From last night. "China selling long treasuries????"
Look how carefully this is being managed. Normal volume on a huge run up. Just enough buying to carefully pause at each step.
Anyone paying for level 2 access? Would love to see where the big blocks are parked
I hope he's not hinting he knows the report is going to be filed today.
Out of all our smack talk this one might actually qualify for insider trading
It's happening. Right now before our eyes. AUY up on lower gold today. Gold lower with silver up 1%. If gold really is going to experience a reprice later this year, the miners would be the first to benefit and maybe smart money is loading the truck. Look at the spreads dancing from $1.77 to $1.81 haven't seen spreads like that in a long time with this stock.
USD up 50pts already this morning. I can't wait for Bill Gross to start showing up all over the place being asked about his tweet. We are about to shine a very bright light on everything.
Setting up for the Brio pump is very refreshing to see. They could have gone the other way, set it up for the IPO to fail. "Oh look, another new miner with gold prices collapsing: sell" But that does not seem to be the case!
Thank you, I believe it will begin next month. If there is anything to this, if one was to open an account in Shanghai, a market imbalance between USD, gold, and Yuan could not persist. The Chinese will achieve their goal. They've just shown they can influence the Treasury market, and they're about to show it to the gold market.
Make that a 50pt swing on the dollar. Back up at a 1% gain on the day. Our currency should not be swinging 50pts intraday. Something very wrong.
Many USDs will be sold and shorted today, being exchanged for physical gold en route to Shanghai where the locals will enjoy immediate appreciation in the Yuan.
Not bad! Let's just go ahead an allow that to keep going.
Just read an interesting piece by Koos Jansen about just this topic. Quite a bit more thought out though. Not only did he beat me by a day, he did a lot more homework.
I think until off shore investors can open accounts next month, the dollar/gold carry is on, and we might actually see gold reprice. It's China's goal to influence price of gold with yuan.