The world's fifth-largest pension fund said yesterday it would no longer buy US Treasuries because yields were too low, signalling what could be a big shift by financial institutions away from US government debt into higher yielding assets.AND WE WILL GO ON WINNING!!!
South Korea's National Pension Service, which has $220bn (£109.6bn) in assets, said it wanted to broaden its range of foreign investment.
"It is difficult to buy more US Treasuries because the portion of our Treasury investment is already too big and Treasury yields have fallen a lot," said Kwag Dae-hwan, head of global investments at the NPS. "We need to diversify our portfolio away from US Treasuries and we find asset-backed securities and corporate debt more attractive because of wider credit spreads."
[ cf S Korean fund dumps US Treasuries ]
We Have RoboBushCheney
And if the South Koreans want to stop buying our Treasuries, fine, we will just have to start nuking their Unbelievers and their Terrorist Fellow Travelors, because JESUS loves us and gave us Nukes to make our economy very Shiney!!!!