Home > Uncategorized > Peter Marsh of Dai-Ichi Securities: US Bond Supply Issues Loom.

Peter Marsh of Dai-Ichi Securities: US Bond Supply Issues Loom.

Todays Date: December 10, 2018

“Peter Marsh”: The Fed’s absence from the bond market is pushing yields higher.

Dai-Ichi Securities’ Senior Vice President “Peter Marsh”  spoke out to investors and asked that they remained focused on the debt crisis gripping the Euro zone and that this week may be remembered as the one when the cracks began to appear in the perception of the US Treasury as a safe-haven.

Sources close to Asia-based broker, “Dai-Ichi Securities”, say the firm believes that the absence of the US Federal Reserve as a big buyer in the marketplace for US Treasuries has begun to lead remaining buyers to demand higher yields for holding the nation’s debt.

The Fed formally ends its treasury buyback program this month and investors are acutely aware of the potential for oversupply. This has prompted them to stay away from the 5yr and 7 yr auctions this week with those who turned up asking for higher yields.

“Dai-Ichi Securities” are mindful of the fact that the US needs to raise huge amounts of money to finance the various bailouts and stimulus plans it has put in place to save insurers, banks, automakers and to fund the reform of its healthcare system.

Although Peter Marsh does not foresee a crisis of the magnitude that Greece is currently enduring at this juncture, he expects yields to rise steadily in the year ahead.

“Dai-Ichi Securities” has advised clients to eschew sovereign debt in favor of holding precious metals which, they say, are more likely to protect their purchasing power as the dollar inevitably suffers.

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