Post-QE2: Will Central Banks Come Back? Who is buying Treasuries, Mortgages, Credit, and Munis? (113 pages)

This is a chart book, namely all the contents are charts.

The charts include:

. Valuation changes play only a minor role in China's reserve accumulation
. China's FX reserves tend to double every 3 years ... if this continues there will be more than enough demand for US Treasuries
. In real effective terms the Chinese Yuan is at the same level today as in 2002
......