Isn't it an amazing coincidence that the initial bailout narrative of purchasing toxic mortgage assets kept a bid in Agencies long enough for the Chinese to move out of Agencies and into Treasuries with minimal damage?
Citizen Sester has a cogent analysis showing this mammoth move.
According to the Treasury International Capital report China is the largest holder of U.S. Treasury securities at 585 billion, followed by Japan at 573.2 billion and UK at 338.4 billion.
This probably understates the Chinese holdings since the UK usually serves as a proxy.
Bitcoin News Summary – July 9, 2018
6 days ago