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exchange rate

China announces increased flexibility in its exchange rate

There was some big news over the weekend, with the People’s Bank of China announcing that it was going to allow some flexibility in its exchange rate. The statement from the BoC points to the global economic recovery and domestic growth as the background to pursue further exchange rate flexibility. Markets have reacted positively to the announcement, with corporate bond indices opening up tight…

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Exploding Myths

According to many market commentators, the UK debt market is looking sick and is at a critical juncture. It is amongst the most unloved government markets in the developed world, which is understandable given the British inability to save in the boom times.  Now there is justifiable scepticism that markets will not be able to absorb the forthcoming huge government debt issuance once the Bank of…

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