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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (1301)	10/7/2003 11:38:01 AM
From: russwinter	Read Replies (1) \| Respond to of 110194

<Am I wrong?.> Yes, we are totally dependant on the kindness of foreigners for our capital needs. Why would they invest in a seriously devaluing currency, with nominal yields to boot? The only reason the bond market hasn't collapsed yet, is the perverse need for the Asians to aggressively buy USTs and GSEs to curtail a complete rout of the USD, which would then presumably "lower their competitiveness" or export ability. Currency interventions by foreigners to artificially maintain bonds is a very poor foundation for a stock market bull market.