- Already at a three-year low, China's foreign-exchange reserves fell by $118B to $3.2T in January, according to economists' estimates. That would exceed the current record $108B whoosh in December. For all 2015, reserves fell more than $500B - the first annual decrease in nearly a generation.
- The PBOC is tasked with taking the other side of a weakening yuan and massive capital outflows. “It’s an astounding reduction in their capital account position," says a fund manager. "The economy itself cannot turn this around."
- The official number from the PBOC is due on Sunday.
- Source: Bloomberg
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