China and Japan are not accumulating US treasuries, says Bud Conrad in a report. The question is then, who is?
I see a shift in the composition of foreign purchases that looks to be built on a less stable base. Who these Caribbean investors really are is a mystery. To give some explanation, one could imagine US hedge funds using these instruments as offshore conduits. They could ply their trade of leverage to attain positions of safety in the face of plight for concern about risks of already too low rates being offered for junk and emerging debt. But Hedge fund rumors of calamity don’t leave me with comfort that this is a reliable source of deficit funding.
[link]
June 2nd, 2005 at 9:53 am
Chris, the link’s broken which is a shame because I wanted to follow it. Can you let me know the correct link please?
June 2nd, 2005 at 10:30 am
The link is:
http://truthisknowledge.blogspot.com/2005/05/japan-and-china-stop-buying-us-debt-is.html
and the main site: http://truthisknowledge.blogspot.com/ (address checked via bloglines)
I can’t access directly (firewall) but when I tried going through a proxy for the main page I got “a site doesn’t exist” message.
Let me know if you can access. There were a few copyrighted (and surely expensive) research reports there, so, it may have been taken down for legal reasons.