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To: ild who wrote (252477)7/27/2003 10:15:09 PM
From: yard_man  Read Replies (2) | Respond to of 436258
 
this may sound hopelessly naive and stupid, but WTF is a foreign central bank doing holding reserves in US agency debt in the first place??



To: ild who wrote (252477)7/27/2003 11:30:09 PM
From: sammaster  Respond to of 436258
 
it looks like foreigners are selling agency as well as treasuries over the past few weeks....
explains the back up it rates and also overall dollar weakness...
scary part is that they only liquidated a very small portion of their portfolio and im sure asians took some of the slack to keep their currencies weak against the dollar..
what happens once no one wants the dollars they own much less more dollars for the goods they produce?


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