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We study the residue current $R^f$ of Bochner-Martinelli type associated with a tuple $f=(f_1,\cdots ,f_m)$ of holomorphic germs at $0\in {\mathbf{C}}^n$, whose common zero set equals the origin. Our main results are a geometric description of $R^f$ in terms of the Rees valuations associated with the ideal $\left(f\right)$ generated by $f$ and a characterization of when the annihilator ideal of $R^f$ equals $\left(f\right)$.

We study asymptotic jumping numbers for graded sequences of ideals, and show that every such invariant is computed by a suitable real valuation of the function field. We conjecture that every valuation that computes an asymptotic jumping number is necessarily quasi-monomial. This conjecture holds in dimension two. In general, we reduce it to the case of affine space and to graded sequences of valuation ideals. Along the way, we study the structure of a suitable valuation space.

Given a holomorphic mapping $f:{\mathbb{P}}^2\to {\mathbb{P}}^2$ of degree $d\ge 2$ we give sufficient conditions on a positive closed (1,1) current of $S$ of unit mass under which $d^{-n}{f}^{n*}S$ converges to the Green current as $n\to \infty$. We also conjecture necessary condition for the same convergence.