Latest topics
China’s Treasury Holdings Climb to Record in Government Data
Page 1 of 1
China’s Treasury Holdings Climb to Record in Government Data
China’s Treasury Holdings Climb to Record in Government Data
By Ian KatzJan 15, 2014 7:57 PM ET
Photographer: Nelson Ching/Bloomberg
China’s pace of foreign-exchange reserve accumulation will be slower this year due to...
China’s pace of foreign-exchange reserve accumulation will be slower this year due to the Federal Reserve’s monetary tapering, likely widening of the yuan’s trading band and tighter controls on arbitrage activities, sai UBS AG Hong Kong-based economist Wang Tao. Photographer: Nelson Ching/Bloomberg
China’s pace of foreign-exchange reserve accumulation will be slower this year due to the Federal Reserve’s monetary tapering, likely widening of the yuan’s trading band and tighter controls on arbitrage activities, sai UBS AG Hong Kong-based economist Wang Tao.
China’s holdings of U.S. Treasuries increased $12.2 billion to a record $1.317 trillion in November, data released on the Treasury Department’s website showed.
The figures, scheduled for release at 9 a.m. tomorrow in Washington, were inadvertently posted on the Treasury’s website. Japan’s holdings rose $12 billion to $1.186 trillion, the figures showed.
China’s swelling foreign-exchange reserves, reported today to have reached a world record $3.82 trillion at the end of December, may sustain the nation’s appetite for U.S. debt. Capital inflows and intervention to limit gains in the yuan have contributed to China building up currency holdings that are a third of the global total.
“Large interest-rate differential and steady appreciation of the renminbi contributed to large arbitrage inflows into China, a situation made all the more easy with China’s increasing financial integration and renminbi internationalization,” UBS AG Hong Kong-based economist Wang Tao wrote in a report on China’s data.
China’s pace of foreign-exchange reserve accumulation will be slower this year due to the Federal Reserve’s monetary tapering, likely widening of the yuan’s trading band and tighter controls on arbitrage activities, Wang said.
Early Release
A Treasury spokeswoman said that because of an error, limited amounts of data were posted on the department’s website ahead of the official release, and were removed as soon as it was discovered. The full November 2013 data will be released as previously scheduled at 9 a.m. tomorrow, she said.
The yuan this week reached 6.0406 per dollar, the strongest since the government unified the official and market exchange rates at the end of 1993. The latest data on China’s foreign-currency holdings contrasted with Yi Gang, a deputy governor at the central bank, saying in November that it was “no longer in China’s favor to accumulate foreign-exchange reserves.’
The U.S. data showed net long-term portfolio investment outflow was $29.3 billion in November after a revised inflow the month before of $28.7 billion, the Treasury’s figures showed. The total cross-border outflow in November, including short-term securities such as Treasury bills and stock swaps, was $16.6 billion, after a revised inflow of $188.1 billion in October, the data showed.
The Standard & Poor’s 500 Index (SPX) gained 2.8 percent in November. Investors in Treasuries lost 0.4 percent that month, according to Bloomberg World Bond (BUSY) Indexes. The Bloomberg U.S. Dollar Index, a gauge of the greenback’s value against 10 major currencies weighted by liquidity and trade flows, gained 0.9 percent in November.
To contact the reporter on this story: Ian Katz in Washington at ikatz2@bloomberg.net
To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net
Read More
By Ian KatzJan 15, 2014 7:57 PM ET
Photographer: Nelson Ching/Bloomberg
China’s pace of foreign-exchange reserve accumulation will be slower this year due to...
China’s pace of foreign-exchange reserve accumulation will be slower this year due to the Federal Reserve’s monetary tapering, likely widening of the yuan’s trading band and tighter controls on arbitrage activities, sai UBS AG Hong Kong-based economist Wang Tao. Photographer: Nelson Ching/Bloomberg
China’s pace of foreign-exchange reserve accumulation will be slower this year due to the Federal Reserve’s monetary tapering, likely widening of the yuan’s trading band and tighter controls on arbitrage activities, sai UBS AG Hong Kong-based economist Wang Tao.
China’s holdings of U.S. Treasuries increased $12.2 billion to a record $1.317 trillion in November, data released on the Treasury Department’s website showed.
The figures, scheduled for release at 9 a.m. tomorrow in Washington, were inadvertently posted on the Treasury’s website. Japan’s holdings rose $12 billion to $1.186 trillion, the figures showed.
China’s swelling foreign-exchange reserves, reported today to have reached a world record $3.82 trillion at the end of December, may sustain the nation’s appetite for U.S. debt. Capital inflows and intervention to limit gains in the yuan have contributed to China building up currency holdings that are a third of the global total.
“Large interest-rate differential and steady appreciation of the renminbi contributed to large arbitrage inflows into China, a situation made all the more easy with China’s increasing financial integration and renminbi internationalization,” UBS AG Hong Kong-based economist Wang Tao wrote in a report on China’s data.
China’s pace of foreign-exchange reserve accumulation will be slower this year due to the Federal Reserve’s monetary tapering, likely widening of the yuan’s trading band and tighter controls on arbitrage activities, Wang said.
Early Release
A Treasury spokeswoman said that because of an error, limited amounts of data were posted on the department’s website ahead of the official release, and were removed as soon as it was discovered. The full November 2013 data will be released as previously scheduled at 9 a.m. tomorrow, she said.
The yuan this week reached 6.0406 per dollar, the strongest since the government unified the official and market exchange rates at the end of 1993. The latest data on China’s foreign-currency holdings contrasted with Yi Gang, a deputy governor at the central bank, saying in November that it was “no longer in China’s favor to accumulate foreign-exchange reserves.’
The U.S. data showed net long-term portfolio investment outflow was $29.3 billion in November after a revised inflow the month before of $28.7 billion, the Treasury’s figures showed. The total cross-border outflow in November, including short-term securities such as Treasury bills and stock swaps, was $16.6 billion, after a revised inflow of $188.1 billion in October, the data showed.
The Standard & Poor’s 500 Index (SPX) gained 2.8 percent in November. Investors in Treasuries lost 0.4 percent that month, according to Bloomberg World Bond (BUSY) Indexes. The Bloomberg U.S. Dollar Index, a gauge of the greenback’s value against 10 major currencies weighted by liquidity and trade flows, gained 0.9 percent in November.
To contact the reporter on this story: Ian Katz in Washington at ikatz2@bloomberg.net
To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net
Read More
Ponee- Admin
- Posts : 38267
Join date : 2011-08-09
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Today at 11:16 am by kenlej
» Phony Tony sez: Full Steam Ahead!
Sat Apr 13, 2024 11:51 am by Mission1st
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Apr 13, 2024 11:45 am by Mission1st
» Russia aren't taking any prisoners
Fri Apr 05, 2024 6:48 pm by kenlej
» Deadly stampede could affect Iraq’s World Cup hopes 1/19/23
Wed Mar 27, 2024 6:02 am by Ditartyn
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej
» Almost to the end The goodguys are winning
Mon Jan 22, 2024 9:03 pm by kenlej