Least bad

17 May 2010 By Martin Hutchinson

Net foreign investment flows to longterm U.S. securities were $141 bln in March, the most since records began, with two thirds going into Treasuries. Rather than a touching sign of confidence in Uncle Sam, this may derive from a simple consideration: there s nowhere else to go.

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Net foreign purchases of longterm U.S. securities in March 2010 were $140.5 billion, the largest since records began in 1978. U.S. residents purchased a net $17.1 billion of foreign securities while net foreign purchases of longterm securities totaled $157.7 billion. Of this total, private foreign investors purchased $125 billion while official foreign institutions purchased $32.7 billion.

Private investors purchased $80.2 billion of Treasuries, $33.9 billion of agency and corporate bonds and $10.9 billion of equities while official investors bought $28.2 billion of Treasuries, $4.3 billion of agency and corporate bonds and $0.3 billion of equities.

World official gold reserves at March 2010 were 30,190 tonnes, according to the World Gold Council.

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