{"id":293,"date":"2010-05-19T23:19:02","date_gmt":"2010-05-20T04:19:02","guid":{"rendered":"http:\/\/blogs.law.harvard.edu\/abrahamtiamiyu\/?p=293"},"modified":"2010-06-25T08:34:30","modified_gmt":"2010-06-25T13:34:30","slug":"seeking-a-safe-haven","status":"publish","type":"post","link":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/archives\/293","title":{"rendered":"Seeking a safe haven"},"content":{"rendered":"<p>Thanks to the resurgence in the <a title=\"Why the Obama Plan Is Working\" href=\"http:\/\/www.businessweek.com\/magazine\/content\/10_16\/b4174028669540.htm\" target=\"_blank\">United States\u2019 economy<\/a> (consecutive quarters of positive GDP growth + the surge in equity markets since March 2009 lows), coupled with the current fiscal crisis engulfing the European Union, global investors \u2013 governments and organizations &#8211; are increasingly flocking to U.S. financial assets as a safe haven. Here are some stats from a recent Bloomberg <a title=\"Demand for Dollars Exceeds Estimate With China Among Big Buyers\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601083&amp;sid=aOWHg2U9SrQY\" target=\"_blank\">article<\/a>:<\/p>\n<ul>\n<li>Total foreign purchases of U.S. treasury      notes and bonds were $108.5 billion in March 2010, up from $48.1 billion in      February<\/li>\n<li>China increased its holdings of U.S.      debt (treasuries), by 2 percent, to $895.2 billion in March<\/li>\n<li>Japan,      the second-largest investor in U.S. debt, increased its holdings by $16.4 billion to      $784.9 billion in March<\/li>\n<li>The U.K. increased its holdings by $45.5 billion      to $279 billion<\/li>\n<li>The Organization of Petroleum Exporting      Countries (OPEC)\u2019s holdings rose to $229.5 billion, an increase of $10.7      billion<\/li>\n<li>Russia increased the amount of dollars in      its currency reserves to 44.5 percent, up from 41.5 percent<\/li>\n<li>Finally, foreign demand for U.S. agency      debt, those issued by organizations such as Fannie Mae and Freddie Mac, resulted      in net purchases of $22 billion in March, the biggest gain since June 2008<\/li>\n<\/ul>\n<p><em>All data are as of March 2010<\/em><\/p>\n<p>Sources: <a title=\"Major Foreign Holders\" href=\"http:\/\/www.ustreas.gov\/tic\/mfh.txt\" target=\"_blank\">U.S. Treasury<\/a>,\u00a0<a title=\"Demand for Dollars Exceeds Estimate With China Among Big Buyers\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601083&amp;sid=aOWHg2U9SrQY\" target=\"_blank\">Bloomberg<\/a>, <a title=\"Why the Obama Plan Is Working\" href=\"http:\/\/www.businessweek.com\/magazine\/content\/10_16\/b4174028669540.htm\" target=\"_blank\">BusinessWeek<\/a><\/p>\n<p><span style=\"color: #000000\">Abraham Tiamiyu <\/span><\/p>\n<p><em> <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thanks to the resurgence in the United States\u2019 economy (consecutive quarters of positive GDP growth + the surge in equity markets since March 2009 lows), coupled with the current fiscal crisis engulfing the European Union, global investors \u2013 governments and organizations &#8211; are increasingly flocking to U.S. financial assets as a safe haven. Here are [&hellip;]<\/p>\n","protected":false},"author":2328,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[127],"tags":[],"class_list":["post-293","post","type-post","status-publish","format-standard","hentry","category-general","post-preview"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/posts\/293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/users\/2328"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/comments?post=293"}],"version-history":[{"count":5,"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/posts\/293\/revisions"}],"predecessor-version":[{"id":296,"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/posts\/293\/revisions\/296"}],"wp:attachment":[{"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/media?parent=293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/categories?post=293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/abrahamtiamiyu\/wp-json\/wp\/v2\/tags?post=293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}