Con-tango

China’s Labor Day

There were quite a few announcements on Labor Day in China, as a matter of fact, 42 laws and regulations came into effect.

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Earthquake in China

In a much awaited move, the Chinese authorities managed to surprise the markets by
raising their interbank rate 27 basis points to cool their overheated 10.2 %
y/y growth in 06Q1. The usual centralized broadcast of orders to banks to
curtail specific loans was expected, maybe an increase in loan requirements or
even furthering land restrictions for real estate development; but not the free
market economic reign-in liquidity tool of raising rates.

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Mohamed’s US dollar

“If Mohamed will not go to the
mountain, the mountain must come to Mohamed”

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I love long legs

It’s been a while that I’ve wanted to talk about legs – the longer they are, the more I like them…
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Dollar future?

I really appreciated Menzie Chinn’s presentation (and fredw’s comments) at econbrowser on the theories behind future dollar predictions; it’s a fascinating subject, very relevant to what will happen to the US, and I picked up a couple of concepts. Thanks Menzie.

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Gold talk

I usually stay away from gold, because unfortunately, and I don’t know why, the metal is riddled with peddlers; – maybe it’s the gold fever syndrome hang-up from the old west… I don’t know.
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