Matthew Phan

Repo turmoil is a symptom of a much bigger problem ft.com/content/718491… via @financialtimes - best succinct explanation i've seen yet

Quite the quote from a man who has devoted much of his life to promoting US-China dialogue. (via @comradewong on Bloomberg's relocation of New Economy Forum from Beijing to Singapore: nytimes.com/2018/08/29/wor…)

One Belt One Road - How China Got Sri Lanka to Cough Up a Port nyti.ms/2lwfNHU

A suddenly declining RMB, restrictions on selling Chinese stocks, a Greek debt deal, OPEC pumping more oil....Did I rejoin Twitter in 2015? twitter.com/c_barraud/stat…

So many banks are loaded up on JGB HQLAs that if China ever decides to attack Japan, all other countries would lobby them not to. Maybe that's the Japanese QE-as-national-defense plan.

What Happens When a Bad-Tempered, Distractible Doofus Runs an Empire? newyorker.com/culture/cultur…

What’s the best way to avoid regrets? | Oliver Burkeman theguardian.com/lifeandstyle/2…

The bizarre story of China's U-shaped line - it's really just a series of mistakes. The story finally published in 'Modern China' - by me. The Modern Origins of China’s South China Sea Claims: Maps, Misunderstandings, and the Maritime Geobody #articleShareContainer" target="_blank" rel="nofollow noopener">journals.sagepub.com/doi/full/10.11…

Yes, this turtle has green hair. Yes, it breathes through its genitals when it's underwater for a long time. And the Mary River turtle is ranked as among the most endangered reptiles in the world. nyti.ms/2qv0wcH

@MacroPru ubs.com/microsites/chi…

@mattphan1891 twitter.com/zerohedge/stat…

What determines Chinese banks' onshore funding costs?

Its not tighter monetary policy causing the onshore bond sell off, its fin regulation forcing shadow bank deleveraging

Japan shows once again why it can never be counted out. goo.gl/ueMxZY

#funds are piling into #China's asset backed securities, particularly auto loan ABS such as those issued by #Ford and #VW. ft.com/content/089553…

Chinese banks issue loads of T2 in onshore RMB but practically no AT1 in 2017; AT1 issuance has gone to offshore USD markets

2/2 乱 - the searing, multi generational, semi permanent, socio economic splits that accompany deindustrialization

1/2 Reading of steel mill closures in the US midwest in The Unwinding by George Packer, thinking China is less pro stability than fearing 乱

@keqiangCN WIND has data on direct fiscal deficits, likely they then include net issuance of central and local govt bonds to it

Where is China’s development finance really going? brook.gs/2hCqZRg via @BrookingsInst new data shed light on China's lending

Classic Shin/BIS: why 2008 was not a crisis of $+ macroecon imbalances but a crisis of $ funding of European banks bis.org/speeches/sp171…