Monday, March 17, 2008

Nobody wants our T-Notes

I didn't see this anywhere in the US press, I guess we can only take so much bad news at a time:
Foreign investors veto Fed rescue

Asian, Mid East and European investors stood aside at last week's auction of 10-year US Treasury notes. "It was a disaster," said Ray Attrill from 4castweb. "We may be close to the point where the uglier consequences of benign neglect towards the currency are revealed."

The share of foreign buyers ("indirect bidders") plummeted to 5.8pc, from an average 25pc over the last eight weeks. On the Richter Scale of unfolding dramas, this matches the death of Bear Stearns.
Damn foreign ingrates!
(h/t Sadly, No!)


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