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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo	4/22/2006 5:48:03 PM
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FA Weekend License. In connection with the Fed euphoria last week, and the associated drop of the USD, the usual raft of gloom-and-doom stories began appearing about how foreign Central Banks were refusing to take on more dollars, were actually reducing their holdings of USDs. etc, etc,...Heavens!!....the Sverige Riksbank...with its relatively miniscule reserve holdings was sharply cutting back their USD share.!! Meanwhile...in the real world.....foreign holdings of US Treasuries at the Fed increased enormously in the last reporting week.....up $12.3B bucks in a week...Not that we can see that every week....but that's running at an annual rate in excess of $600B....compared to an accumulation of $216B in the past year.....(And Treasuries ......faithful to their charts...LOL.....were not able to show any but a marginal price appreciation in the face of such enormous demand.)

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