The Phaserl


China trims US debt holdings by $800 million

from China Daily:

China remained the United States’ largest foreign creditor in March, trimming holdings of US Treasuries by just $800 million while No 2 Japan dumped $10.6 billion of US debt.

It was the third straight month that China reduced its US Treasury holdings. Overall foreign capital inflows into US Treasuries declined, with strong demand coming mainly from Belgium, which continued its heavy buying of US debt. Russia was the largest seller during the month amid speculation that its assets would be frozen as part of sanctions over the crisis in Ukraine.

China’s cut “was marginal, so I would not read too much into it,” said John Praveen, chief investment strategist with New Jersey-based PrudentialInternational Investments Advisers LLC. “Compared to some of the bigger changes that other countries such as Japan and Russia made, what China did is not really significant.”

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