Treasury Holdings in China - Is This a Reflationary Signal?

We should be seeing a similar rally in treasury holdings in china. And we do see an increase, but it's nowhere near as pronounced as what we saw in the currency. We can agree that this is a bullish, reflationary signal. But if this worked in china, why doesn't it seem to have helped out anywhere else? I were going to talk about foreign holdings of what? Jeff, long term ues dollar assets. What did we see there? Yes, we probably should back up here and reiterate our stands here."