If the oil exporting countries have begun dumping our bonds, the lifetime of the dollar has gone from short to extremely short.
Zero Hedge reports:
And the hits just keep on coming. The news, first noted yesterday that Saudi Arabia would send troops into Bahrain, has just been confirmed with a Saudi Official reporting that more than 1,000 Saudi troops have entered the tiny island home to the US Fifth fleet. Just headlines for now and we will bring you more as we see it. But far more troubling is the rumor that oil exporting countries have now started dumping Treasurys, leading to a soft patch in the govvie space earlier. We have not yet confirmed the rumor, which may have confused the seller of bonds (Japanese insurance companies come to mind).