On 30 November, the International Monetary Fund (IMF) officially decided to make the Chinese yuan (also called renminbi) the fifth sovereign currency in the Special Drawing Right (SDR), joining the US dollar, the euro, the British pound and the Japanese yen in this prestigious basket. The new composition of the SDR will be the following: […]
The recent trend of the gold price has been closely linked to how the Fed’s tightening cycle is likely to pan out. The rationale is that higher rates make gold less attractive. While gold has no credit risk, it is a non-yielding asset. As a result, when real rates on almost “default-free” assets like US […]
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