One country’s external debt is another country’s asset. The U.S. capital account data leaves little doubt that foreign central banks have been a huge source of financing for the U.S. current account…

The U.S. Treasury needs to get its talking points straight. It is hard for the Treasury to argue that the world economy is doing very, very well (the IMF forecasts global growth to be at a 30 year h…

Steve Johnson’s market insight column in Thursday’s Financial Times keys off Morgan Stanley’s currency strategist Stephen Jen’s argument that "As long as Asia insists on staying inside this dollar ar…

I spent most of the past week in Washington for the IMF’s annual meetings, trying to sell a few books. The focus of the meetings though, was not on emerging markets, but rather on oil, China and the…

The latest monthly trade data came out today, and was worse than expected -- though in my view that indicates expectations have yet to catch up with reality. Exports have been stuck in the $95-96 bi…