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Blogs

Follow the Money

Brad Setser tracks cross-border flows, with a bit of macroeconomics thrown in.

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Bitcoin and the Yuan

This is a guest post by Cole Frank, a research associate at the Council on Foreign Relations. Read More

October 11, 2017

China
Three Items of Note Three Items of Note

Often one of the best ways to get noticed is to highlight something a bit surprising. A data point that doesn’t match expectations for example. Puerto Rico’s large trade surplus for example, which, really is “fake” news: it is rather obviously a function of transfer pricing that helps pharmaceutical firms shift profits offshore, where they can be indefinitely tax-deferred.

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October 10, 2017

Puerto Rico
What Puerto Rico Tells Us About Global Trade What Puerto Rico Tells Us About Global Trade

Trade in tax often trumps trade in tasks.

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October 5, 2017

Eurozone
Official Investors and the Eurozone Debt Market Official Investors and the Eurozone Debt Market

The share of Treasuries held by official investors—foreign central bank reserve managers as well as the Fed—has been going down in recent years. But the share of Eurozone bonds held by official investors is soaring, and could now be approaching 50 percent of central government debt. With the ECB holding a rising share of a shrinking stock, there aren't enough German bunds around to meet reserve demand.

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