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Message: What is the value of a guarantee

What is the value of a guarantee

posted on Feb 11, 2009 03:41PM

China may ask US for assurances that it will support the dollar - Bloomberg
Bloomberg cites comments from He Zhicheng, an economist at Agricultural Bank of China, the nation’s third-largest lender by assets, who says that China may express its concerns over US government finances and the potential for a weaker dollar when Secretary of State Hillary Clinton visits the country on 20-Feb. According to He, in talks with Clinton, China will ask for a guarantee that the US will support the dollar and make sure China's dollar-denominated assets are safe. He adds that such a guarantee would be one of the prerequisites for additional Treasury purchases. StreetAccount notes that concerns that China will shift its reserves away from dollar-denominated assets have weighed heavily on a Treasury market facing an influx of supply related to fiscal stimulus measures.
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