$100bn Price of the Special Relationship

Guido’s bond trading days are long behind him, but he keeps an interest in the markets. Why have UK holdings of US Treasuries tripled in the last 12 months ($55bn to $167bn) when France and Germany have maintained stable and much smaller holdings? The dollar is in benign decline. China and Japan obviously have to recycle their dollar surpluses. The UK has a deficit. Any City lurker on here care to explain?

Source : US Treasury.

UPDATE : Guido bought his first daughter an ounce of gold for her first Christmas, she is well ahead on that and the way the economy looks another ounce will be going to his second daughter for her first Christmas. Chinese insurance…




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Quote of the Day

Paul Goodman as sagacious as ever on Arron’s entryism…

“… one must watch for former UKIP donors and a very few left-of-Party-centre MPs propping each other up, like drunks at the end of a pub crawl. It suits the former to claim the power to organise a programme of mass infiltration. It suits the latter to react by complaining about extremist entryism. The rest of us should keep a cool head.”

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