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

To: regli who wrote (54723)	8/12/2006 9:58:18 AM
From: RealMuLan	Read Replies (2) \| Respond to of 116555

Who's Buying Treasuries These Days? Friday, August 11, 2006 The treasury has been issuing a large amount of new debt recently as July and August are slow months for tax revenues. Total debt went from $8.420 trillion on 7/28/06 to $8.460 trillion on 8/10/06, with another big chunk being funded on 8/15. With Japan and Korea reducing their treasury holdings in recent months, it appeared that the Treasury would have a difficult time and rates were likely to rise. Finding buyers for the upcoming auctions was probably on somebody's agenda for the G-8 meeting in Russia July 15-17. The auctions have gone surprisingly well, even though President Bush failed to make new friends in Moscow. Indirect bidders have taken a good percentage of the debt, and foreign official and international accounts have surged in the past 3 weeks. So the question that comes to mind is: Has the foreign investment part of the rebalancing equation been put on hold? To try and answer that, I want to know who is doing the buying. The Major foreign Holders report for July won't be out until mid-September, so I look for clues in foreign currency fluctuations: ... rebalancing.blogspot.com