For several years, the rate of M2 growth has exceeded reserve growth, leading to a decrease in the ratio of reserves to M2. The depreciation of the yuan in August halted this erosion. Due to growth in M2 and a decrease in reserves, however, the amount of yuan in M2 per dollar of reserves continue to rise.
April 19th COVID Update: Weekly Deaths Decreased
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[image: Mortgage Rates]Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
*It is likely that we will see pandemic lows for...
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