December 15, 2008 · 10:32 am

More Madoff fallout

Foreign investors dump all U.S. long term assets. Who can blame them for no longer trusting our stock or bond market or the ability of the S.E.C. to ferret out fraud? It’s not helping the Dow Jones today, that’s for sure.

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One response to “More Madoff fallout”

  1. TKaz
    December 15, 2008 at 3:49 pm

    Chris – That was data for October and is shows a slowing, not a reversal. Given the time lag, the Madoff fiasco could not have influenced this information. Plus, it tells us nothing of what similar investors were investing in their own or other non-US countries so I think it is tough to devine much from this other than what it says.

    Tom

    Quoting:

    Total net purchases of long-term equities, notes and bonds slowed to a net $1.5 billion in October from $65.4 billion the previous month, the Treasury said today in Washington. Including short-term securities such as stock swaps, foreigners bought a net $286.3 billion, compared with net buying of $142.6 billion the previous month.