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主题:【原创】新年政治经济展望之五:国债陷阱(一) -- 井底望天

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家园 Friend, read carefully...

HOLD TO MATURITY....

If you expect yourself to hold to maturity the MAJORITY OF YOUR BONDS, then your realized return =YTM. Nothing to do with market price fluctuation.

China will still buy US treasury notes and keep most of its USD reserve in either Fed.Gov. debt or US gov. agency debts (such as Fannie or Freddie bonds). You can not find buyers for $1t Fed bonds or agency notes.

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