A EU free Saturday morning shall we? Michael Pettis (not yet available for publication) believes...

|By:, SA News Editor

A EU free Saturday morning shall we? Michael Pettis (not yet available for publication) believes Wednesday's reserve ratio requirement decrease in China is more about the PBOC trying to offset what he believes are continued net outflows of speculative capital from the country. The yuan is no longer a one way bet, and in fact has been trading down sharply each day before the PBOC steps in to fix it.