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China Pushes Yuan Aggressively Higher As Corporate Bonds Implode
Market Depth
The C FETs RMB Index Continues to Go Down
The C FETs RMB index is a basket of currencies against the UN as constructed by the PBOC. It's heavily dollar weighted and has hit new lows on the year, despite being heavily dollar weighted. In 2022, they actually increased the USD waiting in the basket, the percentage of it. And that was not a good idea going into 2022 because in 2022, the dollar surged and crushed the C FETS, you on basket more than it would have had they not rebalanced it heading into that year. As the horrendous year of 2022 for the UN versus the dollar ended heading into 2023, they rebalancing it again and this time they won the other way and
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