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Mar. 17th, 2008 04:02 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
ebonlockYikes:
As feared, foreign bond holders have begun to exercise a collective vote of no confidence in the devaluation policies of the US government. The Federal Reserve faces a potential veto of its rescue measures.
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.
To which Bush responds with his usual, "Nothing to see here, move along." I feel so much better already.
As feared, foreign bond holders have begun to exercise a collective vote of no confidence in the devaluation policies of the US government. The Federal Reserve faces a potential veto of its rescue measures.
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.
To which Bush responds with his usual, "Nothing to see here, move along." I feel so much better already.
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Date: 2008-03-18 12:55 am (UTC)no subject
Date: 2008-03-18 01:10 am (UTC)*longs for Florence*
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Date: 2008-03-18 01:17 am (UTC)no subject
Date: 2008-03-18 02:08 am (UTC)