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April 6, 2008

Financial Markets
Just how much money do sovereign wealth funds have?

A ton, according to Morgan Stanley’s Stephen Jen and a host of Wall Street investment banks Not all that much, according to Milken Institute’s Christopher Balding (as reported by Bob Davis in the Wa…

adia

November 24, 2006

Financial Markets
Deja vu all over again (dollar falls v. the euro when Americans are on vacation edition)

Maybe it is just me, but Thankgiving 2006 is starting to feel a bit like the period after Christmas in 2004.   Both periods saw sharp falls in the dollar in thin markets.  1.31 isn’t 1.36.  But, in a…

April 13, 2007

China
China. On track to add $500b to its reserves in 2007, heading toward $2 trillion fast …

Please allow me a bit of latitude.  China won’t add $500b to its reserves in 2007 for the simple reason that the central bank will sell some of its reserves to the state investment company.  Moreover…

January 8, 2006

Monetary Policy
Sit back and watch Asia’s reserves grow.

Not because Taiwan is reportedly intervening once again last week.   But because Asia holds lots of euros and yen.    The euro rose 2.4% against the dollar last week, the yen by 2.8%.  And Asia holds…

December 6, 2005

United States
Alan Greenspan, financial globalization, home bias and central bank reserves

The very last paragraph of Alan Greenspan's last speech on global imbalances seems to have generated the majority of the press that came out of his London speech on global imbalances.   I kind of lik…

home bias and central banks