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Bob Doll, China, France, And The Important Gap…

Tuesday, March 7, 2017 19:52
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(Before It's News) / March 07, 2017

With continued uncertainty in global markets, the notes below take a look Bob Doll, China, France, and the important gap…

But first, here is a quick note from Peter Boockvar about China’s reserves…

China’s FX reserves in February got its 3 handle back with a total of $3.005T, up from $2.998T in January and $36b higher than expected. Chinese authorities have been fighting tooth and nail via a variety of capital flows to stem the search for overseas homes (literally and figuratively). In particular on the acquisition front, I’ve seen an estimate that foreign deals year to date have fallen by 74% y/o/y. The Chinese continue to struggle with their desire to internationalize the yuan via eventual full convertability but at the same time they hate large fluctuations and now the persistent yuan weakness. A PBOC official today said that they “encourage companies to invest overseas” but these investments “need to be watched.” They don’t like to see construction companies buying soccer teams. The official said $3T in reserves is still “very high…but not inexhaustible.” The yuan response was mixed as the offshore yuan is higher while the onshore yuan traded lower. The Shanghai comp was higher by .3% and the H share index was up by .6% but…


The post Bob Doll, China, France, And The Important Gap… appeared first on Silver For The People.


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