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Olduvai III: Catacylsm
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A Desperate China Begged Fed For “Plunge Protection Playbook” As Its Market Crashed

A Desperate China Begged Fed For “Plunge Protection Playbook” As Its Market Crashed Last June, China’s stock market miracle ended in tears. The SHCOMP’s inexorable, parabolic ascent was to a large degree facilitated by an explosion of margin debt, the likes of which could not be found in any other major market across the globe. […]

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China Takes “10 Steps Back,” Slaps 20% Reserve Requirement On Currency Forwards

China Takes “10 Steps Back,” Slaps 20% Reserve Requirement On Currency Forwards Overnight, China decided to take steps to reduce “macro financial risks.” And by that they mean “do something quick to help ease pressure on the yuan” and by extension, on the PBoC’s rapidly depleting FX reserves. To that end, starting October 15 banks will […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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