Puppycow
23rd December 2010, 11:58 PM
Must be bond vigilantes! Oh Noes!
Could it have something to do with high inflation? Like inflation over 5% when these securities pay less than 4% interest? Could be.
Oh, uh, in case you were wondering which government, see here (http://www.bloomberg.com/news/2010-12-24/china-fails-to-complete-sale-of-treasury-bills-amid-cash-squeeze-at-banks.html).
Could it have something to do with high inflation? Like inflation over 5% when these securities pay less than 4% interest? Could be.
Oh, uh, in case you were wondering which government, see here (http://www.bloomberg.com/news/2010-12-24/china-fails-to-complete-sale-of-treasury-bills-amid-cash-squeeze-at-banks.html).