Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

1/16/2014 (3 years ago)

Catholic Online (www.catholic.org)

Figures may spur on China to take on more U.S.-held debt

China's holdings of U.S. treasuries have swelled to a record-breaking $1.317 trillion. These figures for the month of November were inadvertently released on the Treasury Department's Web site, originally intended to shown the following morning.

Capital inflows and intervention to limit gains in the yuan have contributed to China building up currency holdings that are a third of the global total.

Capital inflows and intervention to limit gains in the yuan have contributed to China building up currency holdings that are a third of the global total.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

1/16/2014 (3 years ago)

Published in Business & Economics

Keywords: China, U.S., yuan, U.S.-held debt


LOS ANGELES, CA (Catholic Online) - in addition, Japan's holdings rose $12 billion to $1.186 trillion.

China's ever growing foreign-exchange reserves, reported to have reached a world record $3.82 trillion at the end of December, may sustain China's desire for U.S. debt. Capital inflows and intervention to limit gains in the yuan have contributed to China building up currency holdings that are a third of the global total.

Remember "Footprints" with this special prayer card --

"Large interest-rate differential and steady appreciation of the renminbi contributed to large arbitrage inflows into China, a situation made all the more easy with China's increasing financial integration and renminbi internationalization," UBS AG Hong Kong-based economist Wang Tao wrote in a report.

However -- China's pace of foreign-exchange reserve accumulation will be slower this year on account of the Federal Reserve's monetary tapering. This includes the likely widening of the yuan's trading band and tighter controls on arbitrage activities, Wang said.

Because of an error, limited amounts of data were posted on the department's Web site ahead of the official release, and were removed as soon as it was discovered, a Treasury spokeswoman said.

The yuan this week reached 6.0406 per dollar, the strongest since the government unified the official and market exchange rates at the end of 1993. Yi Gang, a deputy governor at the central bank, said last November that it was "no longer in China's favor to accumulate foreign-exchange reserves."

The U.S. data showed net long-term portfolio investment outflow was $29.3 billion in November after a revised inflow the month before of $28.7 billion, the Treasury's figures showed. The total cross-border outflow in November, including short-term securities such as Treasury bills and stock swaps, was $16.6 billion.

The Standard & Poor's 500 Index (SPX) gained 2.8 percent in November. Investors in Treasuries lost 0.4 percent that month, according to Bloomberg World Bond (BUSY) Indexes.

Pope Francis calls for your 'prayer and action'...


---


'Help give every student and teacher Free resources for a world-class moral Catholic education'


Copyright 2017 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for DECEMBER 2016
Universal:
End to Child-Soldiers: That the scandal of child-soldiers may be eliminated the world over.
Evangelization: Europe: That the peoples of Europe may rediscover the beauty, goodness, and truth of the Gospel which gives joy and hope to life.



Comments


More Business & Economics

Pope Francis' nightmare? World's richest 8 men own as much as 3.6 billion people Watch

Image of The richest one percent own what the world's poorest have COMBINED.

By Kenya Sinclair (CALIFORNIA NETWORK)

During an interview with Dutch newspaper Straatinieuws, Pope Francis explained: "I would like a world without the poor. We must fight for this. But I am a believer and I know that sin is always within us. And there is always human greed, the lack of solidarity, the ... continue reading


Is YOUR job in danger? Thousands of Americans to lose jobs as 218 iconic American brands collapse Watch

Image of Over 200 American brands are closing stores to keep their heads above water.

By Kenya Sinclair (CALIFORNIA NETWORK)

An iconic American brand with a century-long history is shutting down hundreds of stores in the face of bankruptcy. LOS ANGELES, CA (Catholic Online) - According to Business Insider, several Sears chains have been losing so much money that staff is starting to hand out ... continue reading


Yes, Millennials are lazy, but it's not their fault says one high-profile consultant Watch

Image of Simon Sinek says millennials are lazy, but it isn't their fault.

By David Drudge (CALIFORNIA NETWORK)

Yes, Millennials, you have a problem, but it's not your fault. This is the conclusion of Simon Sinek, the famous leadership consultant who is launching a tour around Australia and New Zealand. LOS ANGELES, CA (California Network) -- Millennials do have a problem, ... continue reading


Third of millennial adults still living with parents -- here's the reason why and what we had better do about it... soon Watch

Image of They can't change a tire, but they can protest like champs. It doesn't help we are paying them less for the same work as previous generations. Our debt is accruing interest, and they're losing interest in democracy.

By Marshall Connolly (CALIFORNIA NETWORK)

Adults are living at home with their parents in numbers not seen since the Great Depression. LOS ANGELES, CA (California Network) - If you're a millennial, you know how the dating scene works about 40 percent of the time: "Can I come over?""Sure, let me ask my ... continue reading


The genius secret why Trump is stacking his cabinet with pro-business staff Watch

Image of Our nation is about to be great once again.

By David Drudge (CALIFORNIA NETWORK)

Donald Trump is facing a lot of criticism over his cabinet choices. He has repeatedly appointed Washington D.C. outsiders to posts within his administration based on their business expertise. This has left politicians upset, leveling accusations that Trump does not ... continue reading


GOODBYE CASH! Some banks to go cashless Watch

Image of Citibank has said some branches may become cashless.

By Marshall Connolly (CALIFORNIA NETWORK)

Citibank has announced it will stop accepting cash at some branches. The move is sparking surprise and anger as the bank appears to be moving customers towards virtual banking. Around the world, there is a trend to suppress the use of cash in favor of electronically ... continue reading


Here's how Trump is already making America great again, just by getting elected Watch

Image of He hasn't even taken office and the country has reversed course.

By David Drudge (CALIFORNIA NETWORK)

He's only a president-elect, but Donald Trump is already making America great again. In the week since his election, several positive events have transpired including the dollar reaching a 14-year high. The contrasts with the media coverage which is all spin, intended ... continue reading


China remains a fast-growing trade monster Watch

Image of Chinese exports continue to dominate the world market.

By Marshall Connolly (CALIFORNIA NETWORK)

Chinese exports remain dominant in the world, bringing about $2.3 trillion into the country annually. LOS ANGELES, CA (California Network) - China remains a fast-growing trade monster, now raking in $2.3 trillion per year, up from $1.9 trillion four years earlier. The ... continue reading


Wages, jobs rise in October as recovery finally reaches the middle class Watch

Image of Wages are on the rise, but so too will be interest rates.

By Marshall Connolly (CALIFORNIA NETWORK)

Did you get a raise recently? If you haven't you might soon. According to payroll data, worker wages are finally starting to rise. The increase should boost the economy and spur the Federal Reserve to finally raise interest rates. LOS ANGELES, CA (California Network) - ... continue reading


Another warning. The world is about to run low on JOBS as automation takes over Watch

Image of What will we do in a world without work?

By Marshall Connolly (CALIFORNIA NETWORK)

More data and more warnings. The fourth industrial revolution has started. It will be jobless and many people will lose their employment, or be forced to compete for their jobs. The result is, you will probably be unemployed, or accept low wages to survive. LOS ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

Daily Readings

Reading 1, Isaiah 8:23--9:3
23 For is not everything dark as night for a country in distress? As the ... Read More

Psalm, Psalms 27:1, 4, 13-14
1 [Of David] Yahweh is my light and my salvation, whom should I fear? ... Read More

Gospel, Matthew 4:12-23
12 Hearing that John had been arrested he withdrew to ... Read More

Reading 2, First Corinthians 1:10-13, 17
10 Brothers, I urge you, in the name of our Lord Jesus Christ, not to ... Read More

Saint of the Day

Saint of the Day for January 22nd, 2017 Image

St. Vincent Pallotti
January 22: St. Vincent Pallotti, Priest (Feast - January 22) ... Read More