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Greetings, It shouldn’t come as a surprise to our readers that we begin with China once again. Going into the Asia open, the spread between the onshore and the offshore yuan stood at record levels. Source: @tracyalloway Then the PBoC unexpectedly weakened the yuan by most since August (by fixing the midpoint 0.51% weaker than yesterday).

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mj16

I love New Year’s Day. It’s a tabula rasa. A wide expanse of pristine sand with no footprints. There are no victories to celebrate (except avoiding Uber surge pricing), but also no defeats. Indeed, on January 1st, my resolutions are strong and, as yet, unbroken. Optimism is high and my natural cynicism has yet to

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