China Morning Missive
Nothing at all surprising about this move, even as the chorus continues to call for “fiscal stimulus”. The fact that China’s central bank remains cautious on rates tells you all you need to know.
Pragmatism is the name of the game. Don’t expect any material moves to support the local economy until Beijing has a clearer understanding of what, exactly, the Trump administration wants from this trade war.
What do you make of the Gold price in RMB?
Lots of Chinese demand appearing having dropped US treasuries?
Fascinating to watch play out
No question that retail demand locally for gold has taken root nostr:npub1ltz38gwwmmg740r5qlqjn96gth5thv5wmhkwlgqks9lu3485q7jsy6k4fh
There’s also been a rather clear signal from the powers-that-be for retail to allocate into gold.
Decent Reuters article on the subject where local Chinese gold ETFs have seen decent demand. Still, the Chinese can be notorious for chasing the “latest thing” in terms of investing.
