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Most of companies overseas cash hoard may already be held in the U.S. currency
Government debt holdings soar as deposits outpace loan demand.
Money fund reforms further compound problems of investor visibility, as traditionally reliable indicators misfire.
Calm shattered in U.S. Treasuries market amid global selloff in sovereign debt when ECB decides not to expand stimulus program.
As more investors begin to think interest rates will rise this year, yield is rising on short-dated Treasury notes.
Currency differentials threaten the record foreign demand for Treasuries.