01-08-2009 China y las finanzas de USA.

CHINA AND THE US FINANCES
August 01, 2009

"If this trend continues, it could reflect foreign buyers’ increasing concerns about the creditworthiness of the U.S.," said James Bianco, president of Bianco Research.
The worries over China shine a light on the potential vulnerability of the U.S. as it tries to fund is budget hole. Last year, China led foreign investors in selling mortgage securities guaranteed by government entities Fannie Mae and Freddie Mac, according to Treasury Department data. They also sold corporate bonds as the global financial crisis ramped up. They have not dipped back into these asset classes despite a huge rally in corporate bonds and mortgage debt this year.
While no one at State Administration of Foreign Exchange, which manages China’s $2 trillion, would comment on the latest Treasury auctions, the government has left little doubt it fears the portfolio is at risk.
Clipped comments from government officials, amplified by state media editorials, point to a worry the U.S. will ultimately address its massive debt obligations by permitting inflation to rise or letting the U.S. dollar sink

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