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PBOC & US & Japanese bonds
This article reports on PBOC's selling of US bonds and buying of Japanese bonds:
http://asia.nikkei.com/Politics-Econ...vernment-bonds
They analyzed the latest TIC report - I think.
I post this here because I draw the following from it:
- PBOC seems to act as a trader -not as an investor (I saw posts on blogs about the "PBOC-Trader" in the past)
- PBOC sold into bond strength from January on.
- PBOC chooses JGBs as alternative
a contradicting argument is:- PBOC simply has to reduce their reserve holdings, because of the slowdown at home.
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