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Re: [serenity-trading] Re: Japan and $ yen



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A further comment ... given the rate at which the US is piling up trade
deficits, the foreign holdings of US treasuries should be showing consistent
growth. While there does seem to be evidence that dollars are being
disinvested from US, there is some evidence that freshly minted trade
surpluses are not being left in the US and these are very large sums.

Earl

----- Original Message -----
From: Gwenael Gautier <ggautier@xxxxxxxxxxx>

> Nevertheless, something must be sold/disinvested from the US to be
> bought/reinvested into something elsewhere. If it is not treasuries what
could
> it be? When looking at moves and trends this size, there must be an
underlying
> force driving the market, that's what I am trying to figure out... Last
year in
> Asia, it turned out investors were pulling capital out of the emerging
markets.
> Someone is now pulling capital out of US dollar assets, into Yen assets.
Who
> and why may be interesting facts to know about from a long term investment
> clima point of view.
>
> | Von: Earl Adamy [SMTP:eadamy@xxxxxxxxxx]
> |
> | I track foreign holdings of US treasuries as reported by the Fed weekly
in
> | Barrons. Holdings have been very stable to slightly increasing. The last
> | major decline was approximately 10% something over a year ago.