The PBOC signaled support by injecting net 100B Yuan (~$16B) into market operations as Evergrande fears...

Between September and December 2023, the PBOC added nearly $700B to its balance sheet, Global M2 grew...The US-China-Japan Conundrum The other big central bank juggernaut is the PBOC....Following a sizable expansion in Q4 2023, the PBOC’s balance sheet has been in contraction since the...

At the time, we noted this was “largely driven by China’s PBoC and, to a lesser extent, the Fed” and...The two biggest contributors — the PBoC and the Fed — have pulled back over the last few weeks, but we...continues to trend higher, and history shows similar increases have been followed by an expansion of the PBoC...

26, 2024 And the constructive policy shifts don’t stop with the Fed, as we’ve seen China & the PBOC...of a sudden the feed is littered with takes on “why China matters” China has always mattered – the PBOC...If recent policy shifts from the Fed and PBOC weren’t enough, look no further than the statements from...

We’ve talked a lot about the setup for more PBOC liquidity, and have taken note of China’s ongoing effort...The big kicker though is the nearly $500B of liquidity the PBOC has withdrawn over the last 3 months...

Why the Fed just gave the “green light” to global central banks Impact of China’s pivot and PBOC stimulus...It’s opened the door, I think, for the PBOC to stimulate and provide the stimulus that they need for...There’s a good argument that that PBOC pivot wasn’t priced in the markets either....PBOC just double clicking on that point. 100% agree.

The PBOC announced another rate cut on bank reserves after pressuring banks to refinance loans for struggling...But these efforts haven’t moved the needle much so far, leaving the PBOC little alternative in our view...As we noted in the Markets Year Ahead, the combination of Fed + PBOC liquidity is a powerful force for...

(July 2023) Since then, PBOC liquidity injections have continued to increase....Similar credit expansions are usually driven by more PBOC liquidity support....BTC and crypto markets also exhibit a strong correlation with PBOC liquidity expansions....During this time, the PBOC’s balance sheet was also expanding, and coupled with a weaker USD, helped...

We still anticipate more stimulus is coming from the PBOC too as officials try to revive investor confidence...

...considerably across the board, in large part due to recent increases in global liquidity driven by China’s PBoC...

And the constructive policy shifts don’t stop with the Fed, as we’ve seen China & the PBOC begin...If recent policy shifts from the Fed and PBOC weren’t enough, look no further than the statements from...

PBOC Liquidity is showing signs of rebounding, something we’ve been expecting and will continue monitoring...

PBOC liquidity even turned positive again a few months ahead of the 2024 US Presidential election....Changes in PBOC liquidity often precede large volatile moves in BTC and crypto markets....“During this time, the PBOC’s balance sheet was also expanding, and coupled with a weaker USD, helped...

...outperform other risk assets when liquidity conditions expand.But the Fed isn’t the only game in town — the PBOC...own.We’ve been saying to keep an eye on China for months as risk markets tend to rise when growth in PBOC...

...charge.One of the key catalysts has been an increase in global liquidity, largely driven by China’s PBoC...

Global Liquidity growth has slowed in the last few months, most notably due to the combination of Fed + PBOC...

Of the major central banks we track (Fed, ECB, PBOC, BOJ, BOE, BOC), the aggregate value of their holdings...Notably, the PBOC continues to run a relatively tight policy regime despite the latest headwinds facing...But now we’re seeing both the PBOC balance sheet and credit expansion from state-owned banks slowing...

PBOC(central bank of China) just posted “warning that institutions within its jurisdiction shall not...

The PBoC’s big 2017 notice already banned financial and payment institutions from dealing with crypto...

This is in contrast to the trend that’s defined the last 6-8 months, which the Fed and PBOC have led.