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

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To: CalculatedRisk who wrote (24939)3/4/2005 12:40:28 PM
From: BSGrinder  Read Replies (2) of 116555
 
The bond market isn't making any sense unless you understand this:

As we discovered late Thursday, the invisible helping hand here is the FCBs (foreign central banks). FCBs have purchased about $29 billion of US government and agency securities in the two weeks ending on March 2. That comes to an astounding annualized rate of $750 billion per year, and may be the fastest two week accumulation by FCBs ever. Not all of these FCB purchases have shown up in the Treasury auctions we analyze here at the WSE, so this is a surprise.

<http://wallstreetexaminer.com/?itemid=437>
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