Apparently, Mr. Jen thinks the dollar -- despite the United States’ 6.2% of GDP current account deficit -- is significantly undervalued against all major currencies, and fairly valued against most As…

Stephen Jen sometimes says the darnedest things.  Not about currencies.   But about reserves. His estimates for oil reserve growth have been consistently on the low side.   Norway, the UAE and Kuwait…

Stephen Green of Standard Chartered has the best analysis I have seen of the bureaucratic politics behind the creation of China’s new state investment company, as well as the best analysis of the con…

Wrong, maybe, but not inconsistent.Stephen Jen notes that China is not the only country with an enormous current account surplus that intervenes massively in the foreign exchange market – “If…