Europe Scraps Net Zero, Biden Should But Won’t, Why?
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"Unaffordable climate commitments have two leftist British parties racing
to exit stage left."
2012-01-07
Chinese yuan stabilizes
The gap between the market price and the daily fixing in the yuan has closed. The arbitrage opportunity in Hong Kong offshore yuan trading has also disappeared. It remains to be seen whether this is a start of year capital allocation move, or a return to the trend of a rising yuan, but I expect economic fundamentals will keep the yuan under pressure this year.
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