Break-Out in TED Spread Implies further CNY Depreciation, ECB Balance Sheet Expansion and EU Financials Weakness

2016-07-29 · by Brandon J. Ferro · in China, CNY, Emerging Markets, FX, TED Spread

Dating back to the beginning of the GFC the TED spread – what amounts to cross-border, inter-bank borrowing/lending rates vs. risk free t-bills – has been an excellent proxy for rising financial system contagion and counter-party aversion, which, ultimately has manifested itself in…

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