China’s holdings of US Treasuries fall to lowest level since 2009

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Financial Times 2d ago

China’s holdings of US Treasuries fall to lowest level since 2009 - Financial Times

Quick Summary:

Setser said hedge funds were likely holding US Treasuries in the UK as part of the so-called basis trade, a highly leveraged strategy in which funds buy US bonds and sell futures to profit from small price differences.

Sobel said the fall in Treasury holdings did not necessarily mean China was selling out of dollar assets in general.

Changes in the value of Chinese Treasury holdings also reflect fluctuations in the bonds’ market value.“Whether they have reduced overall dollar holdings I don’t know, but they are definitely investing in a broader array of instruments through different vehicles,” said Sobel.