US DATA REACT: Analyst Wyn Thin at BBH says Jan TIC data for the
BRICs and Asia show “China was a net seller of US assets for the sixth
straight month (-$7.3 bln total, -$5.9 bln USTs), Japan was a small net
seller of US assets after two straight months of buying (-$1.8 bln
total, -$340 mln of USTs), Brazil was a net buyer of US assets for the
fifth straight month ($61 mln total, -$233 mln of USTs), India was a
small net buyer of US assets after six straight months of selling ($184
mln total, $218 mln of USTs), and Russia was a net seller of US assets
for a second straight month (-$20 bln total, -$20 bln of USTs).”
Jan data are inconclusive- “China (as well as many other countries)
loaded up on the short end during the crisis” and now may be extending.