The PBoC telegraphed M2 would climb in the coming months and they were guaranteed an increase thanks to the slow growth in August to October 2015. Last August 2015, M2 increased 0.3 percent; this year it increased 1.3 percent, lifting M2 yoy growth from 10.2 percent in July to 11.4 percent in August. Three-month rolling M2 growth is 14.1 percent.
"The Lock-In Effect of Rising Mortgage Rates"
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Today, in the Calculated Risk Real Estate Newsletter: "The Lock-In Effect
of Rising Mortgage Rates"
A brief excerpt:
Here is new working paper from Feder...
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