16/12/16

China Dumps Treasuries: Foreign Central Banks Liquidate A Record $403 Billion In US Paper [feedly]



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China Dumps Treasuries: Foreign Central Banks Liquidate A Record $403 Billion In US Paper
// Zero Hedge

One month ago, when we last looked at the Fed's update of Treasuries held in custody, we noted something troubling: the number had continued to drop sharply, declining by another $14 billion in one week, and pushing the total amount of custodial paper to $2.788 trillion, the lowest since 2012. One month later, we refresh this chart and find that in last week's update, there is finally some good news: foreign central banks finally bought some US paper held in the Fed's custody account, which following months of liquidation, rose over the past two weeks by $23 billion, the biggest two-week advance since November of 2016, pushing the total amount of custodial paper to $2.816 trillion, the highest since early October.

That was the good news, and we use the term loosely in as much as the custody account can be used as a proxy of foreign buying, which according to ....

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