WASHINGTON (AP) - China cuts holdings of US Treasurys for 5th month
The Treasury Department said Monday that China cut its holdings by $9.2 billion to $1.14 trillion. Japan, the second-largest foreign holder, boosted its holdings by $17.6 billion to $907.9 billion. There had been concerns that the March 11 earthquake and tsunami would lead Japan to scale back its purchases so it could use the money for reconstruction. Britain, the third-largest buyer, increased its holdings by 10 percent to $325.2 billion in March. Total foreign holdings increased by $4.9 billion to $4.48 trillion. (LINK)
BBC - Residents have been moved further away from the crippled Fukushima nuclear plant in northern Japan as the no-go zone is extended and there is a new setback at the plant. The government and Tepco have said it would take until next January to achieve a cold shut-down at the plant. Last week the government agreed a huge compensation package for those affected by the disaster. Analysts say the final bill for compensation could top $100bn (£61bn). (LINK)
bug here: More than 80,000 people have been relocated to shelters and this new evacuation adds 5,000 more people. These are people now effectively without a job, a home and without privacy (living in a shelter or a gym with hundreds of other refugees hardly gives you any time to be alone, this can be quite depressing). Tepco and the Japanese government said it would take until January 2012 (sic!) to cool the reactor, but that could be an understatement. Furthermore, a cold reactor doesn't mean it's safe to return home. These are hard times for those that have been evacuated, but the overall situation is also having a depressing effect on the Japanese economy as was apparent from today's consumer sentiment figures that came in way below expectations.
The Treasury Department said Monday that China cut its holdings by $9.2 billion to $1.14 trillion. Japan, the second-largest foreign holder, boosted its holdings by $17.6 billion to $907.9 billion. There had been concerns that the March 11 earthquake and tsunami would lead Japan to scale back its purchases so it could use the money for reconstruction. Britain, the third-largest buyer, increased its holdings by 10 percent to $325.2 billion in March. Total foreign holdings increased by $4.9 billion to $4.48 trillion. (LINK)
BBC - Residents have been moved further away from the crippled Fukushima nuclear plant in northern Japan as the no-go zone is extended and there is a new setback at the plant. The government and Tepco have said it would take until next January to achieve a cold shut-down at the plant. Last week the government agreed a huge compensation package for those affected by the disaster. Analysts say the final bill for compensation could top $100bn (£61bn). (LINK)
bug here: More than 80,000 people have been relocated to shelters and this new evacuation adds 5,000 more people. These are people now effectively without a job, a home and without privacy (living in a shelter or a gym with hundreds of other refugees hardly gives you any time to be alone, this can be quite depressing). Tepco and the Japanese government said it would take until January 2012 (sic!) to cool the reactor, but that could be an understatement. Furthermore, a cold reactor doesn't mean it's safe to return home. These are hard times for those that have been evacuated, but the overall situation is also having a depressing effect on the Japanese economy as was apparent from today's consumer sentiment figures that came in way below expectations.
If you don't risk, you don't ever have to lose.