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

To: Chispas who wrote (7776)	6/10/2004 11:46:29 AM
From: mishedlo	Respond to of 116555

Bank of England Raises Benchmark Interest Rate to 4.5 Percent ap.tbo.com

To: Chispas who wrote (7776)	6/10/2004 12:29:09 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Domestic Debt federalreserve.gov Domestic nonfinancial debt rose at a seasonally adjusted annual rate of 8-1/2 percent in the first quarter of 2004, somewhat faster than the 6-1/2 percent pace of the previous quarter. The pickup in debt growth early this year mainly reflected faster borrowing by the federal and state and local government sectors and the household sector. On a seasonally adjusted basis, federal government debt increased 11-1/2 percent at an annual rate in the first quarter of 2004, after having risen at a 9 percent pace in the previous quarter. In the state and local government sector, debt growth rose to an annual rate of 9-1/2 percent, as a noticeable increase in the net issuance of longer-term municipal securities more than offset a decline in net short-term issuance. Household debt grew at an annual rate of 11 percent in the first quarter of 2004, after having expanded at a 7-1/4 percent pace in the previous quarter; mortgage borrowing and consumer credit both contributed to the pickup. Debt of nonfinancial businesses increased at an annual rate of 4 percent in the first quarter of 2004, close to the fourth-quarter pace. Among the components of nonfinancial business borrowing, net issuance of corporate bonds and commercial paper was stronger early this year than at the end of 2003, but borrowing in the form of mortgages, bank loans, and other types of loans was somewhat weaker. The level of domestic nonfinancial debt outstanding was $22.8 trillion at the end of the first quarter of 2004. Debt of nonfederal sectors was $18.6 trillion, and federal debt held by the public was $4.1 trillion.