(Zero Hedge)—Now that even the shoeshine boy is speculating whether China is selling its US treasuries (to kill three birds with one stone: i) hammer the dollar, ii) push yields higher and iii) prop up the yuan, if only to give the impression that China is winning the trade war something we described here), Mizuho has a “pretty high” degree of confidence that data will eventually show if China has been selling US Treasuries, according to Jordan Rochester, EMEA head of FICC strategy at the bank.
“Annoyingly we don’t get the data quickly enough, the data’s always lagged,” Rochester said on Monday in an interview with Bloomberg TV when asked if the Chinese have been selling US debt.
“You’ve got the extreme tariffs on China and also future reciprocal tariffs that will be extreme on other Asian central banks and they’ve got to defend their currencies.”
“You’ve seen a much slower pace of selloff in the renminbi than you’d expect, given the size of the shock to their system, so there’s clearly some sort of smoothing going on in the FX market, and to do that a central bank has to sell the US Treasuries and others to fund that FX intervention”
Echoing what we said last week, Rochester notes that for now, “we can only speculate” on whether the Chinese are selling, “but we’ll find out in the data in due course,” adding that his degree of confidence that the data will in due course reveal China’s selling is “pretty high.”
Separately, Rochester said he was “surprised” the dollar was “on the back foot” on Monday morning, after Trump provided some exemptions on his proposed tariff activity over the weekend
“This is alarm bells, I think, for US Treasury Secretary Scott Bessent,” Rochester said; “He’s now seeing a watering down of tariffs but still dollar weakness and US rates selling off still — it’s a horrible toxic combination”, which however can easily be explained precisely by Rochester’s core thesis, namely that China has been aggressively selling US paper, and is opportunistically converting the US-denominated proceeds into yuan at just the right time to give the impression that, as so many others have been parroting, that the US dollar is losing its reserve status.
His full interview starts around the 37 minutes mark.
Three Reasons a Coffee Gift Set From This Christian Company Is Perfect for Christmas
When you’re searching for a Christmas gift that’s meaningful, useful, and rooted in faith, you don’t want to settle for anything generic. This season is filled with noise — mass-produced products, last-minute picks, and trends that fade as quickly as they appear. But one gift stands apart because it blends genuine quality with a message that matters: a coffee gift set from Promised Grounds Coffee.
This small Christian-owned company has become a favorite among believers who want to support faith-driven businesses while giving friends and family something they’ll actually enjoy. Here are three reasons a Promised Grounds Coffee gift set may be the most thoughtful and impactful present you give this year.
1. It’s Truly Delicious Coffee
Too many “gift-worthy” coffees look beautiful in the package but disappoint when the cup is poured. Promised Grounds takes the opposite approach — exceptional taste first, thoughtful presentation second.
Their beans are sourced with care, roasted in small batches, and crafted to bring out a rich, smooth flavor profile that appeals to both casual drinkers and true coffee lovers. Whether someone enjoys bold, dark roasts or lighter, more delicate blends, every sip reflects quality that stands shoulder-to-shoulder with the biggest specialty brands.
Simply put: this coffee is good. Really good. Some say it’s absolutely fantastic. If you want a gift that won’t be re-gifted, ignored, or shoved in a cabinet, this is it.
2. It Spreads the Word While Serving a Real Purpose
There are many Christian gifts that are meaningful… but not exactly practical. There are also useful gifts that have nothing to do with faith. Promised Grounds Coffee bridges both worlds beautifully.
Each gift set delivers an encouraging, faith-centered message through its packaging and presentation — a simple but powerful reminder of God’s goodness during the Christmas season. The cups are especially popular and serve as a daily reminder of the blessings from our Lord. At the same time, the product itself is something people will actually use and appreciate every single day.
It’s a gift that uplifts the spirit and fills the mug. A gift that points loved ones toward Scripture while still being part of the normal rhythm of life. And in a culture that increasingly pushes faith to the margins, giving a gift that quietly but confidently honors Christ can make a deeper impact than you might expect.
3. It’s Affordable, Valuable, and Elegantly Presented
Many people want to give something meaningful without breaking their Christmas budget. Promised Grounds Coffee strikes that perfect balance — the sets look and feel premium, but the price remains accessible.
The packaging is classy, clean, and gift-ready, making it ideal for:
- Family members of all ages
- Co-workers or employees
- Church friends or small-group leaders
- Hosts, neighbors, and last-minute gift needs
It’s the kind of gift that feels more expensive than it is — and more thoughtful than most of what you’ll find on store shelves.
The Perfect Blend of Faith, Flavor, and Christmas Cheer
A coffee gift set from Promised Grounds Coffee checks every box: a gift that tastes amazing, conveys your faith, supports a Christian business, and brings daily enjoyment to the person who receives it. In a season when so many gifts are forgotten, this one stands out for all the right reasons.
If you want a Christmas present that reflects your values and delivers genuine joy, Promised Grounds Coffee is the perfect place to start.