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Greenspan on China

 
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Author Greenspan on China
HenryTo
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PostPosted: Tue Jun 12, 2007 3:21 pm    Post subject: Greenspan on China Reply with quote
http://money.cnn.com/2007/06/12/news/economy/greenspan.reut/index.htm?postversion=2007061214

Quote:
Greenspan played down the prospect that Chinese authorities would sell Treasurys in earnest, forcing a sharp spike in U.S. interest rates.

Former Federal Reserve Chairman Alan Greenspan
Asked at a commercial real estate conference if investors should be worried about this oft-cited concern, Greenspan said: "I wouldn't be, no."

Still, Greenspan said the reason such a withdrawal was unlikely was that China would not have anyone to sell the securities to, hardly the sort of comfort jittery bond investors were seeking.

Now a private-sector consultant following more than 18 years at the U.S. central bank, Greenspan reiterated his prediction that China's latest growth spurt had come too far, too fast.
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Post new topic   Reply to topic    MarketThoughts.com Forum Index -> The China Board
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HenryTo
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PostPosted: Tue Jun 12, 2007 5:45 pm    Post subject: Reply with quote
Yes, Greenspan was only trying to answer the question and not be alarmist, and in no way was trying to state his position on whether he thinks rates will continue to rise.
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rffrydr
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PostPosted: Tue Jun 12, 2007 5:00 pm    Post subject: Reply with quote
They don't have to sell. Just not buy....as much.

That decision has already been made. And markets move at the margin; and when you're the whale in the tank you don't have to move much.

PE scamble (the bull) did the dirty work. Now we're loosing the refi bid and in today's auction....surprise, the cash just wasn't there--as much.

If sanctions are forestalled I'll wager they come in bigtime just for show. But, t's a Decline of Empire thing.
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