March saw biggest drop in foreigners' Treasury pile this century

Section:

By Emily Barrett and Elizabeth Stanton
Bloomberg News
Friday, May 15, 2020

Foreign holdings of Treasuries slumped in March by the most this century as pandemic-related global market turmoil sent U.S. debt yields plunging to record lows and volatility surged.

Total foreign ownership of Treasuries dropped $256.6 billion to $6.81 trillion, according to a report from the U.S. government released Friday. That’s the biggest drop in data stretching back to early 2000.

... Dispatch continues below ...


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The shift, which includes changes in the mark-to-market value of the securities, came as investors poured into the safest parts of global markets in a bid to shelter from the pandemic’s economic fallout. At the same time, liquidity stresses drove record swings in Treasury yields.

“The countries which saw the biggest outflows in their holdings were Saudi Arabia, Brazil, India -- emerging market countries that were seeing large capital outflows,” said BMO Capital Markets Strategist Jon Hill. “It makes sense that they would have to sell Treasuries to defend their currencies at a moment like that.” ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-05-15/march-saw-biggest-dro...

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