Bank of China Flees Fannie-Freddie

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	Bank of China Flees Fannie-Freddie

Forbes Markets

8-29-2008 11:20 AM

823 views

tags:

bank of china, fannie mae, freddie mac, credit crisis

Forbes Markets says:

Foreigners have been mainstay of market for this debt, but Asian investors in particular have become net sellers.

1 Comment |

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8-30-2008 10:00 AM

BartendingBear

If we weren't in debt up to our federal arse paying for the war, they would be a lot less nervous about how we're going to pay for our houses. This does not bode well.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/fe1e218e-0f0f-42a4-a7a1-74b1ccab87e6/2204BD5A-DC47-4FE3-AB21-0DED4C49D7A5/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.ft.com/cms/s/0/74c5cf58-7535-11dd-ab30-0000779fd18c.html?nclick_check=1" href="http://www.ft.com/cms/s/0/74c5cf58-7535-11dd-ab30-0000779fd18c.html?nclick_check=1" style="font-size: 11px;">www.ft.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/74c5cf58-7535-11dd-ab30-0000779fd18c.html?nclick_check=1"><P><B><A href="http://markets.ft.com/tearsheets/performance.asp?s=hk:3988" symbol="hk:3988">Bank of China</A></B> has cut its portfolio of securities issued or guaranteed by troubled US mortgage financiers <B><A href="http://markets.ft.com/tearsheets/performance.asp?s=us:FNM" symbol="us:FNM">Fannie Mae</A></B> and <B><A href="http://markets.ft.com/tearsheets/performance.asp?s=us:FRE" symbol="us:FRE">Freddie Mac</A></B> by a quarter since the end of June.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.ft.com/cms/s/0/74c5cf58-7535-11dd-ab30-0000779fd18c.html?nclick_check=1"><P>The sale by China’s fourth largest commercial bank, which reduced its holdings of so-called agency debt by $4.6bn, is a sign of nervousness among foreign buyers of Fannie and Freddie’s bonds and guaranteed securities.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/2204BD5A-DC47-4FE3-AB21-0DED4C49D7A5/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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