The decline, he and others added, comes not from large outright sales of securities, but from a slowdown in new investments to the States.
Meanwhile, outright sales are continuing a sharp decline.
Included in that figure was a 6.5 percent increase in outright sales, after many on Wall Street had expected a modest decline.
Airbus said it was considering several options, including outright sales and management buyouts.
Some had to turn to the stock market for outright sales.
The market can view those transactions more favorably than outright sales by insiders.
Quia Emptores addressed the question of outright sales of land rights.
Under tax laws, asset swaps are different from outright sales.
Although videocassette rentals were off last year, outright sales have continued to climb, and recorders are now in 69 percent of American homes.
Swaps could not only knock the edge off oil prices but, unlike outright sales, fill the reserve above its current level.