Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
11-19-2008, 10:53 PM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
China Passes Japan as Top U.S. Creditor
China Passes Japan as Top U.S. Creditor
Tuesday, November 18, 2008 4:44 PM
By: Greg Brown
China has now topped Japan as the No. 1 holder of U.S. government debt.
China increased its holdings in U.S. Treasury investments by $43.6 billion in September to $585 billion.
Japan, by contrast, cut holdings of U.S. debt by $12.8 billion, falling to $573.2 billion.
Despite very low Treasury rates and a hammering in the U.S. stock markets, net foreign purchases of long-term U.S. securities, including stocks and bonds, totaled $66.2 billion in September, up from $21 billion in August and $18.4 billion in July, according to government data.
China mostly bought T-bills in three- and six-month issues. The country bought $39.4 billion more in T-bills in the month.
Investors seek the relative safety of U.S. debt, but the lack of corporate debt to buy has played a role, reports Reuters, pushing down yields on government issues.
Between $1 trillion and $2 trillion in new Treasuries will add to the existing $4.9 trillion U.S. government debt market in the next year, analysts tell the news service.
The 10-year Treasury yield will fall to 2 percent from 3.58 percent now as the economy contracts, David Levy, chairman of The Jerome Levy Forecasting Center in Mount Kisco, New York, told Reuters.
http://moneynews.newsmax.com/streettalk ... 52665.htmlJoin our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
Exclusive – Sen. Marsha Blackburn at Border: ‘Walls Work,’ Need...
03-28-2024, 09:54 PM in illegal immigration News Stories & Reports