kingworldnews.com
As
we move through the back half of trading in July, China is dumping US
bonds for the 3rd straight month but look at what hedge funds are doing.
July 19 (King World News) – Here is what Peter Boockvar wrote as the world awaits the next round of monetary madness: Foreigners were back buying US notes and bonds with net purchases of $46.4b in May. The
buyer makeup though was bifurcated as central banks were sellers again
while private participants were big buyers. Specifically with notes and
bonds, Asian countries were net sellers while Europe and the Caribbean
(aka, hedge funds) were buyers…
For the 3rd straight month China was a seller of notes and bonds of $9.2b
but offset that with purchases of t-bills which brought their net
purchases to $10b. Hong Kong, a possible conduit for mainland selling,
sold $8.7b of notes and bonds. Japan sold $3.3b of notes and bonds but
offset that with t-bill purchases. Participants
in the Cayman Islands, a hedge fund conduit, were buyers of $34.8b of
notes and bonds and thus dominated the buying out of that region.
King
World News – It is important to note that U.S. Treasury and bond
transactions out of the Caribbean (hedge funds) were larger than that of
China. At some point this may lead lead to some major volatility in the
these markets as the we move through the rest of 2017. As KWN has
pointed out many times, the bulk of derivatives are held in the interest
rate markets. King World News will keep an eye on these key markets to
look for signs of instability.
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