It seems to us that offshore assets, thus pressure on RMB, and deposits are the more likely outlets… Properties in top cities may also be an outlet, depending on the government’s tolerance of housing price increases (due to social stability concerns).An unconventional asset is Bitcoin, which can be used as a conduit to move offshore. Folks who can't get their money out can go traditional and buy gold for investment at jewelers, banks and gold shops.
Q1 GDP Tracking: Movin' on Up
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From BofA:
Since our update last week, *1Q GDP tracking is up two-tenths to 2.1% q/q
saar*. [Apr 19th estimate]
emphasis added
From Goldman:
We left ou...
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