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

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To: basho who wrote (41299)	9/11/2005 10:08:42 AM
From: russwinter	Read Replies (1) of 110194

Think you have well described how the table is set. BTW you can get the historical data on FCB activity here. It's about a fourth down the scroll under "marketable securities held in custody for foreign official and international accounts." federalreserve.gov If someone here has the ability to whip out quick charts, I'd like to get yoy FCB custodial activity in the Ild collection in the thread header? Here's a down and dirty showing how much the FCBs have faded from their orgy of buying US securities. The peak was on Sept. 9, 2004 at 329,637. The one year constant maturity Treasury (1CMT) was 2.08% federalreserve.gov Dec. 29, 2004: 269,038 1CMT 2.76% March 31, 2005: 232,367 1CMT 3.35% June 30, 2005: 214, 760 1CMT 3.45% Sept. 8, 2005: 175,598 1CMT 3.77% If the FCBs hadn't began this gradual process of removing heroin, I suspect the US monetary authorities would have been more than happy to leave rates at 2%, and sell 1CMT at 2.08%? However, because the FCBs appear to have other uses for this subsidy (or have lost some confidence?), US Wizards have been forced to engage in some defense.

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