Thursday, 18 February 2010

China Will Keep Dumping Treasurys: Jim Rogers

by Antonia Oprita


China's move to unload US debt is likely to continue in the long term while the "euro scare" may last a while, legendary investor Jim Rogers told CNBC.com Wednesday.

On Tuesday, government figures showed that foreign demand for Treasurys fell by the largest amount on record in December.

China cut its holdings by $34.2 billion to $755.4 billion, losing the top spot in terms of foreign ownership of Treasurys to Japan.

Japan also cut exposure, cutting ownership of Treasurys by $11.5 billion to $768.8 billion, a much slower pace than China.

"I am surprised China has not dropped more," Rogers told CNBC.com.

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February 18, 2010

Jim Rogers has taught finance at Columbia University's business school and is a media commentator worldwide. He is the author of Adventure Capitalist, Investment Biker, Hot Commodities, A Gift to My Children,and A Bull in China. See his website.