You must redeem roulette chips at the Roulette table before you leave. August 25 – Bloomberg: “China fell back on its major levers to stem the biggest stock market rout since 1996 and a deepening slowdown, cutting interest rates for the fifth time since November and lowering the amount of cash banks must set aside. In the recent stock swoon, many were caught off guard. 온라인카지노 – Bloomberg: “Faced with a renewed stock market slide that has wiped out $5 trillion in trading value, China is again on the prowl for scapegoats. The $3.65 trillion stockpile will fall by some $40 billion a month in the remainder of 2015 because of the intervention, according to the median estimate in a Bloomberg survey. The People’s Bank of China has been offloading dollars and buying yuan to support the exchange rate, a policy that’s contributed to a $315 billion drop in its foreign-exchange reserves over the last 12 months. JPMorgan Private Bank and the asset-management unit of Bank of China both say the strategy’s best days are behind it. China selling Treasuries is “not a surprise, but possibly something which people haven’t fully priced in,” said Owen Callan, a Dublin-based fixed-income strategist at Cantor Fitzgerald LP.
Channels for such transactions include China selling directly, as well as through agents in Belgium and Switzerland, said one of the people, who declined to be identified… Add to this a surge in volatility — which is kryptonite for these transactions because it can wipe out the profit from the interest-rate differential — and carry traders are finding fewer and fewer ways to make money. How many guests can I have per Swing Suite Bay? August 28 – Financial Times (Stephen Foley and Robin Wigglesworth): “The US mutual fund industry’s most famous emerging markets specialists have suffered an August Horribilis, as wild currency swings wiped billions of dollars off the value of their funds. The yen surged 3.1% to start the week, the biggest advance since May 2010, after the Shanghai Composite Index slumped 8.5%. At one point, Japan’s currency surged 2.76 yen to a seven-month high of 116.18 per dollar in the space of about a minute. Wagers that China’s yuan will weaken further against the dollar have surged since the People’s Bank of China loosened its control over the currency. Commonwealth Bank of Australia. The news service also carried remarks by a central bank researcher attributing the global rout to an expected Federal Reserve rate increase.
Authorities announced a probe of allegations of market malpractice involving the stocks regulator on Tuesday, while the official Xinhua News Agency called for efforts to “purify” the capital markets. ’re going to get a series of bad numbers – a little higher inflation, higher average hourly earnings or whatever – and the market is suddenly going to say, “Oh my God, they are so far behind the curve that they will never catch up.” And the market is going to force an adjustment on the Fed that will be wrenching. Or has he been silent about it because he realizes it’s kind of lame to say, “Gee, I asked about going to Vietnam once, but they wouldn’t let me”? Traders and investors say the betting against currency pegs in Egypt, Hong Kong and Saudi Arabia accelerated after China’s devaluation and picked up further after Kazakhstan and Vietnam moved to free their exchange rates too… August 25 – Wall Street Journal (Carolyn Cui, Anjani Trivedi and Chiara Albanese): “China rattled global markets with the surprise devaluation of its currency this month, and Wall Street traders are betting that the adjustment isn’t over.
The currency’s one-year implied volatility, a gauge of expected price swings used to price options, has more than tripled to 3.2% since a surprise yuan devaluation on Aug. 11. That’s near the yuan’s reading on the day before it was weakened in a move that ended China’s de facto peg of more than four months. 바카라사이트 to raise dollars needed to support the yuan in the wake of a shock devaluation two weeks ago, according to people familiar with the matter. Those outflows were followed up in the first three weeks of August, when investors withdrew $1.6 billion from stocks and $8.1 billion from bonds, said economist Dana Saporta. By cutting interest rates two weeks after its shock devaluation, China effectively crossed the yuan off investors’ shopping lists, too. Investors are betting the yuan will weaken 4% to 6.75 per dollar over the next year, adding to a 4.4% drop since Aug. 11… The U.S. dollar index gained 1.4% to 96.15 (up 6.5% y-t-d). China has communicated with U.S. People’s Bank of China said…