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Thread: What's that about how people in glass houses shouldn't throw stones?

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[quote=MARRIE,357095]

T-Bond plunged today. His talks is irresponsible and dangerous. Probably this guys strategy is to print more paper money to pay off debts.

http://latimesblogs.latimes.com/money_co/2009/01/geithner-china.html

Interest rates on long-term Treasury bonds have jumped today, lifting the 10-year T-note yield to a six-week high, after Treasury secretary-designate Timothy Geithner accused China of "manipulating" its currency.

His comments raised the risk of a new U.S.-China row over trade, which in turn could dim China’s appetite for Treasury debt -- at a time when U.S. financing needs are skyrocketing as the Obama administration ramps up spending to bail out the economy.

The 10-year T-note yield was at 2.60% at about 11:10 a.m. PST, up from 2.52% on Wednesday and the highest since Dec. 11.

The 30-year T-bond yield jumped to 3.24% from 3.14% Wednesday.

In written testimony to the Senate as part of his confirmation hearings, Geithner said that "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency. The new economic team will forge an integrated strategy on how best to achieve currency realignment in the current economic environment."

China’s U.S. critics have long asserted that by keeping its currency undervalued, China keeps prices of its exports artificially low, at American manufacturers’ expense. . . .

"There’s concern on the China front," Kevin Flanagan, a fixed-income strategist for Morgan Stanley’s individual investor clients, told Bloomberg News. "Do they fire back and stop buying Treasuries, especially given the huge amount of supply we’re going to need to underwrite over the next few years?"

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