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Correction: senteance should read "While there does <NOT> seem to be
evidence that dollars are being disinvested from US ..."
----- Original Message -----
From: Earl Adamy <eadamy@xxxxxxxxxx>
To: <serenity-trading@xxxxxxxxxxx>; 'List RT' <realtraders@xxxxxxxxxxxx>
Sent: Friday, September 17, 1999 5:25 AM
Subject: Re: [serenity-trading] Re: Japan and $ yen
> 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.
>
>
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