Holy Upset Applecarts, Batman! Read this!:
China cuts US Treasury holdings in June
China reduced its holdings of US Treasury debt in June by the biggest margin in nearly nine years, according to a US Treasury Department report issued on Monday.
China cut its net holdings by 3.1 percent to $776.4 billion in June from $801.5 billion in May, the report says. This is also the first large-scale reduction of US Treasury debt by China so far this year.
XX Sean’s note — there’s more at the jump.
But if you’ve been wondering why the US dollar’s budding rally seems to be losing steam this week, maybe this is part of the reason. Of course, we’ll have to see how the week ends.
And on the other hand — and there’s always an other hand — Japanese holdings of Treasuries actually went up.
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