Treasury Purchases By Foreigners Jump $60 Billion in March (!?)
International demand for Treasurys increased $108.4 billion in March, up from $48.1 billion in February.
A breakdown showed foreign governments buying a net $28.2 billion of U.S. Treasurys on the month, a sharp increase from $1.1 billion in February. Private purchases of Treasurys also rose, reaching $80.2 billion for March after purchases of $47 billion in February.
And if you believe the Treasury data, US capital has been flowing to foreign investments with a tad less, uh, fervor than it had been (like March 2009, when we were supposedly experiencing one hell of a recovery).
Now the only question is, does this jump have anything to do with the Fed getting out of the Treasury business as primary buyer AND seller?
A $27 billion increase? Man, that marketing campaign to foreign governments must have cost Timmy a fortune - unless by "foreign governments" we mean "Caribbean banking centers", which is just a fancy way of saying "incestuous debt buying that we don't want you to know about".