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WisdomTree Chinese Yuan ETF

5/20/2013, 1:46 PM ET

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Thursday, January 5, 2012, 3:42 AM China unexpectedly set the yuan weaker against the dollar this morning, temporarily dragging down currencies in the region. The dollar/yuan central parity was set at 6.3115, significantly above yesterday's all-time low of 6.3001. 1 Comment [Global & FX]
Wednesday, January 4, 2012, 4:43 AM China is building a payment system to make it more efficient for banks to clear yuan across its borders. Officials want to bring down the cost of yuan transactions as part of the country's push for stronger global use of its currency. Comment! [Global & FX]
Tuesday, January 3, 2012, 7:39 AM China will devalue the yuan in 2012, writes Ambrose Evans-Pritchard, submitting his own list of predictions for the year. In so doing, the country will foist even more of its massive production overcapacity onto an already deflationary world, forcing the West "to turn its back on globalization ... The idea that China can rescue anybody will seem quaint." 1 Comment [Global & FX]
Tuesday, December 27, 2011, 4:41 PM After spending several paragraphs calling out China for manipulating the yuan to keep its value low, the Treasury Department declines to formally name the country a "currency manipulator." Treasury does note the 12% real appreciation in the yuan since June 2010 along with a decline in China's trade surplus as indicating the country is moving on the right path. 1 Comment [Global & FX, U.S. Economy, Breaking News]
Sunday, December 25, 2011, 1:04 PM Japan and China will promote direct trading of yen and yuan without using dollars, Japan said today, and will encourage the development of a market for the exchange to cut the cost for companies. It's part of a broad and innovative package of financial agreements designed to tighten ties between the two giants. 4 Comments [Global & FX]
Friday, December 23, 2011, 12:42 PM "The collapse in the real estate market has already occurred," says Steve Dickinson reporting from Qingdao, the only question is how the government will pick up the pieces. The only sales taking place are those at 30-50% discounts and work on uncompleted projects has slowed or stopped. Land sales - a key source of government revenue - are no longer getting a bid at any price. Comment! [Global & FX]
Friday, December 23, 2011, 11:50 AM Murmurs of further monetary ease from Beijing increase as tightened liquidity leads to a sharp jump in interbank lending rates. Adding to the thought are 2 consecutive months of capital outflows, something that has never happened before, says an HSBC economist. Last year on Christmas Day, the PBOC hiked interest rates. Comment! [Global & FX]
Thursday, December 22, 2011, 11:49 AM China continues with its oh-so gradual liberalization of the yuan as its securities regulator grants the first licenses allowing offshore renminbi funds to be invested in the country's capital markets, the WSJ reports. The licenses are part of a trial program and the initial overall quota is limited to 20B yuan ($3.1B). (previous) Comment! [Global & FX]
Tuesday, December 20, 2011, 5:05 AM Japan should consider holding Chinese government bonds as a way to strengthen ties between the two countries, says Japanese finmin Jun Azumi, marking the first clear indication that Japan intends to shift part of its foreign reserves into yuan-denominated Chinese debt. At the moment, Japan's $1.3T reserves are mainly denominated in dollars, with a small euro portion. Comment! [Global & FX]
Monday, December 19, 2011, 4:36 PM There's a bull market in planned analyst trips to China as suspicions grow it may be the next global crisis spot. With spotty official data, hedge funds are racing to get feet on the ground to complete the picture there. Are they late? Hugh Hendry - who chronicled China's empty skyscrapers and malls in 2009 - is up 52% this year in his "short China" credit fund. Shanghai's A share index is off nearly 25%. Comment! [Global & FX]
Monday, December 19, 2011, 8:57 AM Beijing is considering lifting the $50K/year limit on the amount of foreign exchange citizens can buy for investing overseas, according to sources. While such a move would help to diversify the China's $3.2T reserves, it could accelerate a recent phenomenon - net capital outflows from the country. Comment! [Global & FX]
Monday, December 19, 2011, 2:34 AM New data shows capital flowed out of China in November for the second month in a row as investors pulled back on bets that the yuan will appreciate. It's the first back-to-back decline in over a decade, and economist Ren Xianfang says this is just the beginning as outflows are likely to continue into early 2012. Comment! [Global & FX]
Sunday, December 18, 2011, 8:50 AM China's debt/GDP ratio of 20-30% isn't as attractive as it looks, writes Patrick Chovanec. Toss in contingent liabilities for the banks, local governments, and things like the railway system, and even optimists put the number at 90%. Pessimists put it at 200% or higher, Greek territory. Remember, Irish government finances were the envy of the world until its real estate boom went bust. In any case, "China's fiscal resources are not as limitless as they seem." 38 Comments [Global & FX]
Friday, December 16, 2011, 9:17 AM Chinese banks saw the withdrawal of ¥400B ($62.8B) in the first 10 days of December, according to a state media report, likely offsetting the liquidity unleashed by the PBOC's lowering of reserve ratio requirements. The certainty of the yuan as a one-way bet has become less so over recent weeks, and investors are behaving accordingly. 4 Comments [Global & FX]
Friday, December 16, 2011, 8:48 AM The yuan posts its biggest gain in 2 months, the PBOC setting the rate at ¥6.3352 and pledging stability for the currency's value. Some market watchers speculate Beiijing could be keen to prop the value of the yuan now that speculative flows have reversed and capital is leaving the country. Comment! [Global & FX]
Friday, December 16, 2011, 8:27 AM Among Saxo Bank's "Outrageous Predictions for 2012": A 50% plummet in Apple's (AAPL) value as its legion of 'competitors" make inroads, a collapse in European share prices leading to a one week or longer EU bank holiday, and a sharp devaluation in the yuan. If someone runs into Byron Wien, give him a smack. 1 Comment [U.S. Economy, Global & FX, Tech]