A piece in the Wall Street Journal on foregin investors becoming less keen on Australian debt
h/t to MNI for bringing it my attention
Foreign Investors Turn Frosty on Australian Debt
The Wall Street Journal is gated, but in brief:
Australian bond-market strategist at ANZ Martin Whetton:
- Japanese clients ... Several spoke of the darkening outlook for ... Australia's economy, citing a plunge in commodity prices, escalating unemployment, and the risk of a property bust. Many were alarmed, too, by recent big falls in the Australian dollar, already generating significant losses on their largely unhedged bond investments.
- "They were more downbeat on Australia than I've ever experienced"
- "I was surprised. They used to love us." ... said he had detected a similar unease among investors from the U.S., Singapore and Hong Kong
More at the link, above
