It's unusual for us to be featuring the boring 10-year yield chart so frequently here on the blog. Of course, as you've noticed, things have gotten a bit lively there of late.
Here's a 1-month look:
"China’s central bank has once again drained money from the financial system in the midst of market concerns that its stimulative monetary policy has reached a “turning point” in the face of weakening economic data due to fresh coronavirus outbreaks.
Even though the world’s other major economies, particularly the United States, are mulling
new stimulus packages to combat the economic damage caused by the pandemic, Beijing has been considering fine-tuning some of its temporary support policies enacted last year.
This comes amid growing fears among some policymakers that excess liquidity might lead to asset bubbles, which would increase already high debt levels and pose risks to the financial system."
"...excess liquidity might lead to asset bubbles, which would increase already high debt levels and pose risks to the financial system." Ya think!
"When we are faced with a falsification, we can always talk our way out somehow or other; we can introduce an auxiliary hypothesis and reject the falsification. We can ‘immunize’ our theories against all possible falsification..."