Author: Dan Norcini
Dear CIGAs,
This is the fourth consecutive week in which Treasury holdings by foreign Central Banks in the US Fed Custodial Accounts have fallen. I am continuing to monitor this development as it seems to be something flying under the radar screen of most analysts in spite of the ramifications involved should it continue and become a serious trend.
Also, take a look at the cost of three month money again. After a short rebound it has resumed falling.
Your pal,Dan
http://jsmineset.com/cwsimages/Miscfiles/5124_Charts_for_8-30-2007.pdf
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