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Japanese and Chinese are both major holders of US$ assets, also Hong Kong,
Korea, Taiwan ... in fact virtually all of the countries which run a major trade
surplus with US. It's really no different than any other shopping ... you (the
US) take our goods and we'll take your paper. Now the value of that US$
denominated paper has in many cases doubled or tripled, the economies are in
trouble, some are trying to prop their currency and support local equity
markets, and the dollar is topping ... time to take money off the table.
Earl
-----Original Message-----
From: Felix TY <felixty@xxxxxxxxxxx>
To: Earl Adamy <eadamy@xxxxxxxxxx>
Cc: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Sunday, September 06, 1998 9:58 AM
Subject: Re: Taking Losses
>Is it possible the Japanese? I think they are, if not the largest holders of US
>gov't
>instruments outside US mainland.
>
>Maybe going back home to buy their own Yen?
>
>
>
>Earl Adamy wrote:
>
>> NYSE specialists shorts are again on the rise - somewhat unusual for a market
>> which is so "oversold". Also, the latest weekly Fed report shows that foreign
>> central bank holdings of US treasuries continues to decline. Foreign central
>> banks have now sold about 15% of peak holdings in 1997.
>>
>> Earl
>
>
>
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