Foreign Central Banks Dump Treasuries For 17th Straight Month, Continue To Hoard More Gold

• Foreign Central Banks Dump Treasuries For 17th Straight Month, Continue To Hoard More Gold
  by Tyler Durden, https://www.zerohedge.com/
  For the first time since June, China added to its US Treasury holdings in January (the latest month from TIC data). The total for China — the second-largest holder of U.S. government debt after Japan – rose $8.7 billion in January to $1.08 trillion.
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  The coming months’ data will help show if the virus’s blow to China’s economy is starting to pressure central bank officials to sell Treasuries to support the yuan, a step they’ve avoided over the past several years, preferring instead to manage the currency via the daily fixing, says Mark Sobel, former IMF and Treasury official and chair of the OMFIF.
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  If COVID-19 hit the yuan hard, he said, “China might intervene to cushion any decline.”
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  Japan remains the largest foreign holder with $1.21 trillion, as the value of its holdings rose $56.8 billion at the start of the year, the data showed.
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  But foreign central banks dumped US Treasuries for the 17th straight month…
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