Leo Haviland provides clients with original, provocative, cutting-edge fundamental supply/demand and technical research on major financial marketplaces and trends. He also offers independent consulting and risk management advice.

Haviland’s expertise is macro. He focuses on the intertwining of equity, debt, currency, and commodity arenas, including the political players, regulatory approaches, social factors, and rhetoric that affect them. In a changing and dynamic global economy, Haviland’s mission remains constant – to give timely, value-added marketplace insights and foresights.

Leo Haviland has three decades of experience in the Wall Street trading environment. He has worked for Goldman Sachs, Sempra Energy Trading, and other institutions. In his research and sales career in stock, interest rate, foreign exchange, and commodity battlefields, he has dealt with numerous and diverse financial institutions and individuals. Haviland is a graduate of the University of Chicago (Phi Beta Kappa) and the Cornell Law School.


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China: Currencies, Commodities, and US Treasuries, November 22, 2010

Since America continues to issue more and more debt, sustained patterns of reduced net Chinese buying (and of course net selling) of US Treasury securities is a bearish factor for US government note and bond prices. And quite unsettling for those worthy financial watchdogs who yearn to keep US interest rate levels low! What if other nations behave the same as China? In any event, perhaps other foreign sources or Americans will replace Chinese demand.

But perhaps the Federal Reserve will be the key incremental American buyer of such US debt securities via its beloved quantitative easing (monetary printing) extravaganza. The Fed clearly is willing to gobble up US  government notes and bonds. And who knows, the Fed may even renew its taste for mortgage-backed securities.

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China- Currencies, Commodities, and US Treasuries