Twitter suspends terrorist group accounts, backtracking from former exceptions;Russia strives for sovereign internet with uncertain future; The United States and Taiwan hold first joint cyberwar exercise; Dutch chipmaking supplier delays shipment to Chinese semiconductor manufacturer; and India’s space agency is the latest victim of suspected North Korean cyberattack.
The Fall 2019 Treasury Foreign Exchange Report should send a strong warning to Thailand, Taiwan, and Singapore that their current pattern of intervention in the market would put them at risk of future designation. But it probably won't focus heavily on any of the three.
Based on the profits and losses disclosed by Taiwan’s central bank, it appears that its true FX exposures exceed its disclosed foreign exchange reserves by USD 130bn, and perhaps by as much as USD 200bn.
Who is on the other side of the massive ($250 billion) hedging need of Taiwan's life insurance industry? The local banking system covers at most a quarter of the life insurers hedging need, and foreigner investors provide less than that...
Large-scale purchases of foreign bonds have become the central flow sustaining Taiwan’s massive current account surplus and keeping the Taiwan dollar weak. The size of this flow raises the question of who supplies Taiwan’s lifers with FX hedges.
NSA sets up Cybersecurity Directorate; Microsoft announces customers targeted in state-sponsored cyberattacks; Justice Department opens antitrust review of Big Tech; Taiwan conducts cybersecurity drills; and the U.S. Attorney General re-ignites debate on law enforcement access to encrypted devices.