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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 (1766)	11/2/2003 8:45:44 PM
From: NOW	Respond to of 110194

not so fast....

To: philv who wrote (1766)	11/3/2003 7:05:52 AM
From: Crimson Ghost	Read Replies (1) \| Respond to of 110194

This goes way beyond Greenspan. Huge purchases of US treasuries by foreign central banks (mainly Asia) have played a key role in keeping US bond yields depressed. Bottom line -- global CBs probably are embarked on the most inflationary monetary policies ever but so far have been able to keep the bond vigilantes in hibernation. And this despite huge budget deficits in many nations. Until the bond vigilantes wake up, there seems little limit on how high global stock and commodity prices can surge.