I am no longer convinced that the contagion is limited. A list of institutional investors that bought treasuries when interest rates were low would be illuminating. I am sure the short sellers are all over this. I expect Japan and China will need to bail out their banks (or are bailing out their banks) in the next few months, though they will likely be very quiet about it.
I am no longer convinced that the contagion is limited. A list of institutional investors that bought treasuries when interest rates were low would be illuminating. I am sure the short sellers are all over this. I expect Japan and China will need to bail out their banks (or are bailing out their banks) in the next few months, though they will likely be very quiet about it.