Free Republic

Today’s TIC data … Posted on Monday, March 16th, 2009 By bsetser John Jansen is right; today’s TIC January data was a disaster. $150 billion in (net) capital outflows (-148.9 billion to be precise) cannot sustain even a $40 billion trade deficit. I also though have learned that the TIC data doesn’t necessarily match the trade deficit on a monthly basis — and on occasion it moves in ways that seem inconsistent with the market. If the big outflow had come in December (a month when the dollar slid) rather than January, the flow data and the market move would...

Source of Money Outflow Hasn’t Drained Under the CBR estimate, Russia’s foreign exchange assets amounted to $562.8 billion as of September 26, having shown the growth first time since late August. Regardless, the capital outflow continues, it may reach $45 billion from early August and the quarterly net capital outflow will be probably posted in the third quarter. Russia’s foreign exchange assets grew by $3.4 billion to $562.8 billion September 19 to 26. They widened first time over a month; overall, they narrowed by $23.1 billion in the first three weeks of September. The assets lost $34.7 billion vs. the...