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But we saved everything 🙂.
Brad Setser highlights a surge in the annualized external sector number, which has reached $600 billion—slightly above the International Monetary Fund's forecast from its external sector report.
He notes that the trailing 12-month sum has shown a sharp upward trend, describing its increase as going vertical.
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Setser has previously commented on other developments in the external sector. He noted that Argentina has benefitted from issuing new bonds at low interest rates. In a separate analysis, he pointed out that Chinese state banks have steadily accumulated foreign assets.