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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (77026)	3/6/2000 10:10:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

BGR, Earlie, and Mike I think the note about foreign central bank holdings of US bonds surging may not be accurate. I monitor the Fed balance sheet almost weekly. What I believe happened is that the Fed used to only report treasury holdings. They are now reporting foreign holdings of mortgage securities, corporates etc... That I believe accounts for the 100 billion dollar surge in the grand total. It was not clear what the source of that 100 billion number was, but it it's the Fed's balance sheet... Wayne

To: BGR who wrote (77026)	3/7/2000 9:41:00 AM
From: Earlie	Read Replies (2) \| Respond to of 132070

BGR: Actually, it wasn't so much theory as observation. Net selling of treasuries is a fairly important shift in a very long term trend. As for the recent two week increase in the Fed's holdings for offshore accounts, check out the footnotes. As always, "the devil is in the details". You might take one more step towards being convinced. (g) I have always indicated why I maintain an interest in this topic, which is as an indicator of U.S. interest rates. Rising rates poison the well for stocks. Net selling of treasuries mandates increased rates. A simple question; are rates going up? (g) Best, Earlie