Demand for US government debt and other securities eased in March as China sold Treasuries for the fifth straight month, according to official data released on Monday.
The US Treasury reported that net purchases of long- term securities including stocks and bonds rose $24bn, less than a forecast $33bn and down from the previous month’s rise of $27.2bn.
Total Treasury International Capital, or Tic flows, which includes short-term securities, rose a net $116bn in March, up from $96.5bn in February.
“长期流入的总体水平仍是适中的，短期流入则大幅上升，”巴克莱资本(Barclays Capital)的策略师杰弗里•扬(Jeffrey Young)表示。
“The overall level of long-term inflows remains modest, and short-term inflows rose substantially,” said Jeffrey Young, strategist at Barclays Capital. “The March result indicates a greater willingness to buy US private sector assets, although it is impossible to tell how much of this was due to the increase in global liquidity conditions stemming from the Bank of Japan’s sharp increase in short-term liquidity supply,” he said.
Others, however, said foreign support for US assets remained reasonable.
“Despite the many challenges that the US economy continues to face and the dire straits that the US fiscal position appears to be in, there continues to be an almost insatiable global appetite for US government securities, at least for now,” said Millan Mulraine, strategist at TD Securities.
“尽管美国经济继续面对众多挑战，美国财政状况看上去十分严峻，但全球对美国政府证券仍有几乎难以满足的胃口，至少目前是如此，”道明证券(TD Securities)的穆连恩(Millan Mulraine)表示。
Foreign holdings of US Treasury bills declined $21.9bn, while purchases of Treasury debt with a maturity of least two years were $26.7bn, down from $30.5bn in February, and the lowest since October.
Foreign official Treasury demand, however, was quite soft, falling by $10.6bn, driven by the $17.5bn decline in demand for bills.
Official demand for bonds rose by $6.9bn.
Among the major holders of US Treasury debt, China reduced its holdings in March to $1,145bn from $1,154bn in February, and down from a peak of $1,175bn in October.
Much of the decline in China’s holdings in recent months has come from a reduction of their holdings in short-term Treasury bills.
The country sold $589m of Treasury coupon debt in March, after buying $2,601bn of longer-dated Treasuries in February.
China’s purchases of US mortgage and agency debt climbed to $3,579bn in March, up from $1,923bn the previous month.
Japan increased its Treasury holdings to $907bn, up from $890bn, in the aftermath of the earthquake and tsunami that struck the country in March.
Meanwhile, the UK saw a big jump to $325bn from $295bn.
2011-05-17 09:36 编辑：典典
The US Congress moved closer to punishing China for allegedly manipulating its currency, as a key committee of the House of Representatives voted to advance legislation that could