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Tag Archives: cayman islands

The Astonishing Odds and Ends in November TIC

The repo story especially as it is told from the TIC perspective is our main emphasis currently. However, there are other odds and ends in the series that deserve some separate attention if not to the same level. The dollar system is more than collateralized lending, and this will include a few items that I’m going to point out for reasons I can’t (yet) explain, if only to reiterate and emphasize the true shadowy nature of these largescale shadows. It begins where it always begins post-2014,...

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Negative TIC Is A Rare Level of Negative

Even on a six-month cumulative basis, it is rare to find a negative number. These are reserved for the big ones, the market-shaking events that either perform an inflection or confirm one as it reaches pretty hard depths. The world being the way that it is, you just don’t see the whole forced into outright selling (on net) US$ assets. According to the Treasury Department’s TIC data, over the last six months up to and including January 2019, US banks reported that foreigners shed a net $36...

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The Aid of TIC In Sorting Shorts and Shortages

The Asians are selling their Treasuries again, which can only mean one thing. The mainstream media will offer all sorts of explanations as to why that might be and not a single one will be correct. China and Japan are offloading US$ assets primarily federal government debt for vastly different reasons. Their decisions spring from the same source, but Japan’s position in the global reserve system is nothing like China’s. Here’s one explanation for Japan’s dumping of treasuries offered back in...

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