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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Chispas who wrote (16864)	11/26/2004 1:17:29 PM
From: RealMuLan	Read Replies (1) of 116555

[I can't believe this. Something is wrong with this guy's mind<g>]--"U.S. Treasuries nurse losses after China scare" Fri Nov 26, 2004 09:38 AM ET By Wayne Cole NEW YORK, Nov 26 (Reuters) - Treasuries nursed losses on Friday after suffering a scare over possible Chinese official selling of U.S. debt in an otherwise thin and featureless market. The trouble began when the China Business News quoted a member of the Chinese central bank's monetary policy committee as saying the country had trimmed its holdings of Treasuries in foreign exchange reserves to $180 billion, trying to minimize losses from a falling dollar. Later the central bank advisor said he had no knowledge of any government action on China's reserves, but by then the damage had been done. "While we, and others, are inclined to entirely dismiss the weakness those comments generated, the technical damage is real and we're not fully recovered despite a pretty complete denial of the notion that China cut back on Treasuries," said David Ader, a U.S. government bond strategist at RBS Greenwich Capital. reuters.com

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