This is a syndicated repost courtesy of Alhambra Investments. To view original, click here. Reposted with permission.
Why would any central bank try to disguise the fact that it is being highly accommodative in its own money markets? That would be a strange place to start, made all the more so by the further observation the same central bank is perfectly happy if you thought it was doing the opposite. Cryptic introduction aside, it is obvious I mean China and the media’s ongoing description of the PBOC tightening.
This post was published at Wall Street Examiner by Jeffrey P. Snider ‘ December 18, 2017.