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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (4404)	1/5/2004 11:50:02 AM
From: mishedlo	Read Replies (1) of 110194

Asian Reserves Concern quote.bloomberg.com Asian Reserves Concern Asian central banks are also keen to limit the dollar's decline because of their holdings of U.S. Treasury bonds, economists said. In September, Japan increased its holdings of U.S. Treasuries by $17.5 billion to $501.9 billion and China boosted its holdings by $4.3 billion to $141.9 billion. Together, the two accounted for 44 percent of the $1.46 trillion in Treasuries held outside the U.S. ``There may be truth in saying that Asian central banks are defending their currencies because of competitive concerns, but they are probably very concerned about protecting the value of their reserves,' said Joseph Tan, an economist at Standard Chartered Plc in Singapore. "

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