PUMP! PUMP! PUMP! Foreigners Now Hold More Than $13 Trillion In American Securities, Payments in Chinese Yuan Grew by 171% From Year Ago And Yuan Hits Record High vs. Dollar
Fed Keeps Interest Rates Low, Continues Bond Buying Program
The Federal Reserve held fast to its ultra-accommodative monetary policy Wednesday, solidified by what board members described as an economy weakened by fiscal policy.
Interest rates will remain at historically low levels while the U.S. central bank will not alter its $85 billion a month asset purchasing program, the Fed’s Open Markets Committee decided at this week’s meeting.
While recent meetings have been remarkable for signs of dissent over the long-standing Fed policy, the sentiment this month turned towards concerns about “downside risks” to growth, though the FOMC made no mention of the recent set of weak economic data.
Foreigners now hold more than $13 trillion in American securities, a record set as the U.S. seeks to assert itself as the safest port in troubled global waters.
China and Japan combined owned more than $3.4 trillion, including $2.4 trillion in debt, a number that has grown since the data set was compiled.
The total value of U.S. stocks and bonds under foreign ownership rose 6.5 percent in 2012, with stocks actually rising more on a percentage basis, according to the most recent data from the U.S. Treasury.
Payments in Chinese Yuan Grew by 171% From Year Ago…
A press release from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) shows that the value of payments using Chinese Yuan currency grew by 171 percent between January 2012 and January 2013.
In January 2013 alone, payments in the Chinese currency grew in value by 24 percent from December, pushing the Yuan passed the Russian Rouble to the thirteenth slot for world currency payments.
This 24% spike is nearly double the 13% increase recorded across all currencies.
Yuan Hits Record High vs. Dollar
Why the Treasury Market is Headed for Collapse
SPRING SWOON: ‘Real’ Jobless Rate Still Above 10% In Most States, Job Forecasts Revising Down, And CONSTRUCTION SPENDING UNEXPECTEDLY FELL
Degenerating credit quality across the board has prompted asset managers to shy away from the dollar, euro, Japanese yen, British pound, and Swiss franc. And some are turning to the yuan, a currency that 10 years ago was completely off limits to foreign investors.
National Debt Numbers
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Historical returns from 04/10/2013 through 04/30/2013
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