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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (2243)	3/16/2004 7:34:35 PM
From: russwinter	Respond to of 116555

<To blame the entire treasury rally on Japan is silly.> Oh, pleaaasse!! I will not relent on this. The numbers are there for all to see: $200 billion in intervention, money printing, buying of treasuries and agencies, leading to inflationary cheap money in the US from Sept-Feb. And $97 billion just in Jan and Feb. Message 19857282 God knows what March was, but trust me I'll let you know. But you're right about it not being Japan alone, as they did have a little help from other currency pegging Asians (Hong Kong, Taiwan, Singapore, Thailand):$9.6 billion worth last month. By why blame it all on the Asians, there's those other "natural buyers", the leveraged hedged funds, (Caribbean banking Centers) they were good for $11 billion from Nov-Jan. treas.gov But why blame it all on the BOJ, small tigers, leveraged speculators, when you have the convexity trade. That's why they call it a bubble, just add some nice words of moral hazard encouragement from the Fed (Wizards), fail to report PPI numbers, and people will go nuts right in the face of dangerous inflation . And here you guys thought you were brilliant.