Oct

17

Now We Know, by George Zachar

October 17, 2006 |

The great summer mystery of “who’s paying these prices for bonds?” has been solved.

Foreign buying,
in millions, net Aug.
2006
===================================
Foreign total $119,518
Foreign Official $30,119
Foreign Private $89,385
International agencies $14

That’s roughly double Street estimates, and double the prior month’s sum…

…adding clarity to the Vega fund’s woes, as detailed in this morning’s Wall Street Journal:

A series of poor bets on global bonds by Mr. Mehra — and an unwillingness to change his bearish stance on fixed-income investments — have hurt returns. Vega’s biggest hedge fund, the Vega Select Opportunities Fund, which is run by Mr. Mehra, has lost about 17% so far this year, most of it during August and September.


Comments

Name

Email

Website

Speak your mind

Archives

Resources & Links

Search