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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Seeker of Truth who wrote (55388)	9/23/2009 6:06:07 AM
From: TobagoJack	Read Replies (1) \| Respond to of 217764

if one likes wind energy, then perhaps one should also like the mines that supply the stuff the magnets must be made from ... the earth which must be used is rare :0)

To: Seeker of Truth who wrote (55388)	9/23/2009 6:28:14 AM
From: elmatador	Read Replies (1) \| Respond to of 217764

China's SWF is interested in buying debt issued by Brazil's government domestically China's sovereign wealth fund is interested in buying debt issued by Brazil's government domestically, as the upgrade of the country's bond rating has increased interest among foreign investors, Brazil Deputy Treasury Secretary Paulo Valle said Wednesday. Valle, who is participating in a China-Latin America investment forum in Beijing, told Dow Jones Newswires in an interview he met officials from China Investment Corp.'s relevant department Tuesday to talk about the issue. He said the officials he talked to showed particular interest in buying inflation-linked bonds denominated in the Brazilian real, but no concrete agreement has been made yet. "We just had the first contact. But I believe there's a good room to increase our relationship with China's sovereign fund," he said. CIC wasn't immediately available for comment. The CIC, with total assets valued at $297.54 billion at the end of last year, has been rapidly diversifying its overseas portfolio in recent months, as the recovery in global markets has created fresh investment opportunities. CIC Chairman Lou Jiwei said at the beginning of the month that investment in CIC's global portfolio for "one month this year equaled that of the whole last year." Its recent moves include a plan to spend $850 million to buy a stake in commodities trader Noble Group Ltd., and a plan to buy a 2.3% stake in property developer Poly (Hong Kong) Investments Ltd. Moody's Investors Service move this week to raise Brazil's foreign- and local-currency government bond ratings to investment grade, bringing its rating in line with those by Standard & Poor's and Fitch Ratings, will help open Brazil's markets further to foreign investors, Valle said. Moody's cited the country's short-lived recession and stable banking system for its upgrade. Brazil's longer-term fixed-rate bonds denominated in the local currency have also attracted interest from foreign investors, he said. Brazil wouldn't place any restrictions on sovereign wealth funds investing in the country, as these investors help boost the liquidity of the local market, he said. Valle said several foreign sovereign wealth funds have already participated in the local debt market and the government is also seeking investment from investors in countries and regions including Singapore and Hong Kong. Foreign investment only accounts for less than 7% of the Brazilian domestic debt market, leaving a lot of room for fresh investment to come in, he said. Asked if the credit rating upgrade will encourage Brazil to offer fresh sovereign bonds, Valle said the strategy on liability management that has been in place since 2006 will continue and the government will ensure the market continues to have benchmarks. He didn't elaborate. On Brazil's international reserves, which rose to more than US$220 billion from $206 billion at the end of last year according to a report by Estado news agency, Valle said the government won't set any ceiling for the reserves. While the central bank will take efforts to avoid volatility in the local currency, "we don't have any targets in terms of the size of (the) international reserves or the level of the exchange rate", he said.