You are here

Moscow mystery: Where did all its Treasuries go?

Section: Daily Dispatches

By Brian Chappatta
Bloomberg News
Thursday, July 19, 2018

U.S. bond traders are fixated on Russia this week for a much different reason than most Americans.

Just a day after President Donald Trump's much-maligned meeting in Helsinki with Russian President Vladimir Putin, a monthly report from the Treasury Department showed that Russia is no longer considered a "major foreign holder” of U.S. government securities. That's because in the two months through May 31, the nation's Treasuries hoard plummeted to just $14.9 billion from $96.1 billion. The threshold to be considered a major holder is $30 billion. There are 33 of them.

... Dispatch continues below ...



ADVERTISEMENT

Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

https://www.bullionstar.com/



Such an aggressive reduction is not normal. To put the $81.2 billion decline into context, the most Japan has ever cut back in a two-month stretch is $47.8 billion. China, the largest foreign owner of Treasuries, has scaled back to a similar extent on occasion, but it was a mere fraction of its total. For Russia, once a top-10 holder, this looks like a full-scale liquidation. Since the start of 2017, no country's holdings have fallen more, either on an absolute or percentage basis.

... For the remainder of the commentary

https://www.bloomberg.com/view/articles/2018-07-19/russia-s-mysterious-e...

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Thursday-Sunday, November 1-4, 2018
https://neworleansconference.com/

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16