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You Won't Believe What's Happening in China
Chinese authorities are becoming increasingly desperate over their inability to stabilize any of the economy, banking system, or markets. CNY keeps going down, as does the economy. Banks in China aren't lending while dozens are now 'disappearing.' Safety/liquidity of government bonds makes perfect sense. Not to the PBOC which is going to be shorting it by hundreds of billions and this is why.
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Bloomberg Closer Yen, Yuan Correlation Is Danger Sign for…
The skinny
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