Foreign Investors Lose Appetite for Treasuries as Deficit Rises

The U.S. government is growing more dependent on investors from abroad just as their appetite for Treasury securities is waning.
Overseas investors, who own half of all U.S. government debt, bought 14 percent of the $79 billion in benchmark 10-year notes auctioned this year, down from 21 percent in 2004, Treasury Department data show. Bidders including foreign central banks purchased a smaller percentage of the $44 billion in three-, five- and 10-year notes the Treasury sold last week than they did a year ago.
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Looks like interest rates will rise with or without inflation…

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