Hi Stephan,
I agree with heinz on what he had to say here ...
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and your observation on the ground seem to confirm, is my understanding correct?
However, as CB, I question the logic of repatriating savings from the US (sort of a Pearl Harbour revisited scenario) ...
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but had non-the-less closed out my Yen loan, just in case.
China, for example, is not in a hurry to "save" the banks from their own mess, even though the state has the means to do so. The logic being the state only has the means to do the saving once, and only once, thus it is better to wait for the banking operations to mature a bit before throwing them a life line from public coffers.
In China, I had visited the successive heads of the PBOC (central bank). I do not know the issues in Japan nearly as well.
I am interested in what you may have to say on the subject of the general political attitude from the man on the street and the guys in the news on Japan financing the US?
I do not agree with Pezz's observation that the loan yield is up because the debt market is looking forward to economic robustness after a recession that still has not been ...
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I think the long rates are staying high, because long bonds are being sold, for probably many reasons, none good (anticipation of future bond divestment, inflation, Japan doing Financial Pearl Harbour, whatever), and one wrong (looking forward to econ recovery).
Chugs, Jay |
