In other words, in this volatile environment where anti-American, anti-bullying sentiment runs high, it won’t take much for the PBOC to smash the safe-haven status of the US dollar and bonds.
Trade tensions aside, US Treasuries have not generated stable total returns in recent years, as an indecisive Federal Reserve switches its stance on interest rates.
It’s logical that foreign nations no longer have to hold so many dollars if Trump is determined to use high tariff walls to turn his country into an economic island.
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