Outstanding: $4,513 bn [marketable securities only, including TIPS]
In “foreign” hands: $2,402 bn
At the Fed: $677 bn
That leaves only $1,434 bn for U.S investors. Any flight to safety will create “short squeezes.”
Net Issuance was negative in january and usually is very negative in april, may and june.
Unfortunately, there will be a brief delay in service while I dry off my undergarments and descend into the plateaued euphoria of the newly minted Icahn Report.
It’s a cliché that people adapt. This new paper shed interesting light upon this. It finds that people do indeed fully adapt to both marriage and the birth of a child. They get happier as these events draw nearer, but...
A noted manager of financial sector funds finds little to like out there. (WSJ.com) Goldman Sachs (GS) raises $10 billion to invest in loans backing LBOs. (FT Alphaville also Deal Journal) The Mexican Peso is at a ...
freeze a Yankee.” That’s what bumper stickers said in the 1970s. But now, the upper hand is on the other foot. No Tags
Just in time to avoid the aftermath of the dreadful Merrill results, I'm off on holiday. (Although it's worth noting that the shares "sinking" 9% in after-hours trade only brings them back to where they closed yesterday.) There won't be ...
Ainsi donc la loi sur les nouveaux devoirs des chômeurs a été adoptée. Désormais, les allocations chômage seront dégressives en cas de refus de deux offres "raisonnables". Mais à quoi cela peut-il bien servir?
This CDS report was written by Markit's Gavan Nolan Investment grade European credit was resilient today in the face of declining stock markets. The strong performance in financials continued, with yet another bank providing a positive surprise. Credit Suisse posted ...
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March 26th, 2008 at 11:25 am
[...] Who is holding all those Treasury securities? (Alea) [...]
March 26th, 2008 at 6:02 pm
Transfers of foreign exchange reserves into shorter & more liquid maturity holdings, portends a weaker currency. Some volume of the treasury bill concentration in the 4 week, 3 month, 6 month durations probably is in preparation for swaping out their dollar denominated holdings. The dollar’s recent decline suggests this senario.
March 26th, 2008 at 10:40 pm
I suggested in a comment on Paul Krugman’s column that this explains the unreasonably low rates on short term treasuries. When everyone is looking for a safe harbor, the cost for a spot in the harbor goes up.
March 27th, 2008 at 7:48 am
[...] interessanter Beitrag — Wer hält die Treasury Securities (im Grunde US-Staatsanleihen, mehr in Wikipedia). Ich [...]