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

To: orkrious who wrote (101489)	2/19/2009 6:25:56 PM
From: Little Joe	1 Recommendation Read Replies (1) \| Respond to of 110194

In other words there are no qualified honest people in Washington to do the job. When you say it out loud it rings true. lol lj

To: orkrious who wrote (101489)	2/19/2009 10:00:04 PM
From: Wyätt Gwyön	Respond to of 110194

wow, look at KRW (Korean Won), now over 1500. these are very much crisis levels. Feb. 20 (Bloomberg) -- South Korea’s won fell to a three- month low on concern the global recession will curb demand for the nation’s exports, worsening a shortage of dollars and straining banks’ ability to repay debt. The currency has plunged 15 percent so far this year, making it the worst performer among the 10 most-traded Asian currencies outside Japan. Rising U.S. and European government bond sales will lead to a “crowding out” of developing-nation debt, making it harder for them to roll over maturing obligations, Nick Chamie, global head of emerging markets research in Toronto at RBC Capital Markets wrote in a report yesterday. “The won has come under pressure with concerns about dollar funding in Korea and repaying of short-term debt,” said Callum Henderson, head of global currency strategy at Standard Chartered Plc in Singapore. “There’s a significant amount of short-term debt coming due, but compared to the fourth quarter last year, it’ll be less of a problem this time around.” The won declined 0.9 percent to 1,494 per dollar as of 9:54 a.m. in Seoul, headed for a weekly drop of 6 percent, according to Seoul Money Brokerage Services Ltd. It earlier touched 1,499.5, the weakest level since Nov. 26. South Korean banks’ demand for dollars is decreasing as foreign-currency debt maturing every month this year is at least 50 percent lower than in the fourth quarter, a central bank official said this week. Monthly foreign debt payments have dropped to about $4 billion, from between $8 billion and $9 billion in the final three months of 2008, Ahn Byung Chan, director general of the Bank of Korea’s international bureau, said Feb. 17.