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February 26, 2008

Capital Flows
Regulating sovereign wealth funds: does the US have any leverage?

Bob Davis’ Wall Street Journal article - which reports that the US Treasury is pushing Singapore and Abu Dhabi to increase their transparency and to signal that their funds will be managed commercial…

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September 11, 2008

Monetary Policy
FRBNY custodial holdings of Agencies still falling, but at a slower pace

The latest data from the Fed’s custodial accounts (money that the Fed holds for foreign central banks) is out. It indicates that the central banks reduced their holdings of Agencies from $958.6b las…

June 14, 2007

Emerging Markets
Maybe Russia should have talked to the China …

Via Felix Salmon and Marginal Revolution comes word that Yegor Gaidar thinks the Saudis -- not Star Wars -- broke the back of the old Soviet Union in the 1980s.Russia -- as has become very, very clea…

June 4, 2007

Monetary Policy
Can a fall in central bank demand explain the recent rise in Treasury rates?

This week's Economist examines the recent rise in US long-term rates.  The ten-year Treasury bond now yields close to 5%.I tend to think central bank demand for bonds explains a lot of market abnorma…

October 11, 2006

United States
The use and misuse of (certain) statistics

It seems, as Shuda Senoy notes, that consumer goods are falling as a share of US imports:   "the proportion of consumption in imports has been falling, i.e., the proportion of industrial inputs has b…