Because Ambrose Evans-Pritchard seems to specialize in apocalyptic articles, I tend to discount much of what he says.
Why, everything is just peachy with our economy.
Bartender, I'll have another 'stimlus package, and make it a double!
And Merrill Lynch? Do you discount what they say?
Do you see cause for concern when you read that Hiroshi Watanabe, Japan's chief regulator, rattled the markets yesterday when he urged Japanese banks and life insurance companies to treat US agency debt with caution. The two sets of institutions hold an estimated $56bn of these bonds. Mitsubishi UFJ holds $3bn. Nippon Life has $2.5bn.?
Very very little here in direct quotes from the Merrill Lynch official.
And no direct quote from the Japanese regulator.
Many of the quotes supplied were from someone at "Global Insight". Never heard of it.