Foreign Investors dumped over $77 billion in US treasuries in December – the most on record – even as yields fell amid the carnage of the Mnuchin Massacre…
Foreign investors also liquidated stocks and corporate bonds in December…
Interestingly, Norway, UK, and Belgium (often noted as a proxy for China buying), along with China and Japan, all added to their US Treasury horde in December.
The big sellers were France, Brazil, and Germany…
One has to wonder, with US Treasury set to start borrowing aggressively and the rest of the world dumping US Treasuries, if the sudden shock timing of The Fed’s abrupt U-Turn on rates and more importantly the balance sheet normalization are not related to supporting the bond market that America’s hegemon relies upon…
via ZeroHedge News http://bit.ly/2UUJ0vU Tyler Durden