The US January trade deficit fell to $36 billion. That is as low as it has been in a long time. The petroleum deficit (seasonally adjusted) fell to $14.7 billion -- $4 billion less than in Dece…

That isn’t exactly news. Those who follow the TIC data closely had little doubt that Russia was reducing its Agency portfolio. But the fact that Russia explicitly indicated its sovereign fund…

Yesterday I noted the remarkable slowdown in China’s reserve growth over the last few months.     Chinese reserve growth over the last three months – after adjusting for estimated valuation gains -- …

The US December trade deficit was a bit smaller than expected -- thanks to a jump in exports (paced by a $1.35b increase in aircraft exports) and a big ($3.9b) fall in non-oil goods imports. The fa…

The $60.9 billion monthly April trade deficit was the largest monthly deficit since last March. So much for the notion that the trade deficit has turned the proverbial corner. One price explains …