Did foreigners cut back on bond purchases for a while? China has to recycle every single dollar they get from us, back into Treasury bonds, because if they exchange the US$ for yuan, the renminmbi (name of the yuan currency) will appreciate. So if foreign purchases declined for a while, which country cut back? Is there a Federal Flow of Funds report which tells us?

Does anyone know what happened to sdrealtor? Maybe he’s on vacation?