Renminbi Appreciation

Barry Eichengreen wrote a thorough defence of China’s exchange rate policy response to the global demands for letting the Renminbi appreciate and thus stimulate the reduction of US trade deficit.

US Treasury Department recently launched a series of initiatives which labeled China as a currency manipulator and a true source of America’s widening trade . . . → Read More: Renminbi Appreciation

New Home Sales Jump Is Best Since 1963

New home sales jumped up in March at the fastest single-month rate since March 1963. The government report released on Friday said buyers gobbled up new houses ahead of the federal tax credit that is just about to expire.

New-home sales rose 26.9% to a seasonally adjusted annual rate of 411,000 in March, compared . . . → Read More: New Home Sales Jump Is Best Since 1963

Greece Raises the White Flag

Earlier this week Edward mused about whether we were about to see movements in the Greek trenches as yields on 10 year bonds rose to a record 7.76 per cent at one point and closed up 26 basis points on the day. Today, as yields on 2 year bonds flirted with the 10% marker . . . → Read More: Greece Raises the White Flag