United States' changing net IIP

On IMF governance

A historical Fed meeting: Dot revisions and uncertainty

Fooled by the seasons: The Fed has been wrong-footed by early-year price resets

Eurozone portfolio debt inflows resume: The portfolio outflows that accompanied QE are reversing

China's great carry trade to unwind? : History suggest that Dollar weakness could unleash $20bn/month in FX sales. But will this time be different?

We cannot have monetary policy based on luck: NOK weakness poses problems for the Norges Bank

China's preliminary Q2 BoP: Basic balance turns negative (again), net FDI plummets

How to Manage the Dollar (Part II): How strong is the dollar?

How to Manage the Dollar (Part I): A little bit of dollar history

Money and the Bernanke Review: After all that, isn't money still missing?

The Return of the Bond Vigilantes or the Start of the 'Roaring 20s'?: There has been enormous focus on bond supply as a determinant of long-bond yields, but macro fundamentals and Fed policy still dominate

China's unremitted export earnings : Could be as much as $1.5tn but who is behind it?

Anatomy of capital flight in China... : Or a portrait of those who get caught

The Japanese Bid for Foreign Bonds After the End of Yield Curve Control: The Bank of Japan is widely expected to end yield curve control. But Japanese yields will remain low, and foreign bonds will remain attractive to those Japanese investors who don't have to hedge.

Germany's record trade surplus: Move over China, Germany is back!

What caused the surge in post-pandemic inflation?: Evidence for a common global supply shock on goods import prices

Argentina: Four notes continued (No.2): Note 2: Central bank sustainability

Are Bitcoin ETFs cannibalising other assets?: US Bitcoin ETFs have attracted $5.2bn of inflows...

Argentina: Four notes on a revised program (No.1): Note 1: Exchange rate assumptions

A January bounce: United States CPI beat expectations in January

Is China intervening?: A simple question with no easy answer.

Headed for Russia?: A recent surge in Chinese steel exports could be supporting the Russian war effort

Coordinated disinflation: 2023H2 saw inflation collapse across the US, UK and Eurozone

Lagarde makes a poor central banker: According to some ECB staff. Does this matter?