This entry was posted on Friday, March 21st, 2008 at 9:33 am and is filed under market commentary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
In this article by Ambrose Evans-Pritchard it is noted that
“The share of foreign buyers (”indirect bidders”) plummeted to 5.8pc, from an average 25pc over the last eight weeks.”
Having not followed the longer term statistics related to foreign purchases in the debt market it is hard for me to quantify the actual change this implies, but clearly there was a big move by foreign buyers away from our debt in the short term. I will be curious to see whether this snowballs or tends to plateau, if and when the credit issues level out because this is the linchpin that has allowed our crazy national spending spree.
Have a Great Day!
Dave Johnson