Brad Setser
CFR senior fellow. Views are my own. Retweets are not endorsements. Writes on sovereign debt and capital flows.
View on πThreads
A very good article -- one of the best at summarizing the current state of play. But I have a somewhat different interpretation of why private bond holders have been more cooperat...
Japan has been a big part of the global bond market for quite some time β both unhedged investors (the government, mostly) and hedged investors (the banks, the lifers ). And Japan...
Great line from JΓΆrg Wuttke: βPeople always talk about how China is a big market β no, China is a huge economy with a small accessible market" Wuttke is the head of the European...
The pithy formulation that Germany has relied on China for growth is now taken as gospel. But, well, it actually hasn't been true for over a decade. And things are changing fast...
As @michaelxpettis has noted, there is an emerging consensus that China's state banks do in fact help the PBOC manage the yuan. Both Michael and I have been banging on and on abou...
The UK looks to be experiencing a form of the kind of crisis that Nouriel Roubini and I posited that the United States could face back in our (in)famous 2005 paper β 1/
Interesting FT story, drawing on the amazing AidData numbers. But I suspect it misses something important -- namely, China seems to be having second thoughts about its "emergency...