The PBoC is selling US Treasuries!!!

CHINA FINANCIAL - Report 28 Aug 2015 by Michael Pettis
Special points to highlight in this issue: The PBoC has been reported to have sold substantial amounts of US government bonds. It will probably continue to sell a lot more.This doesn’t mean, however, that there will be substantial liquidation. The reasons driving PBoC selling also mean that China will almost certainly increase its net ownership of US dollar assets, and indirectly of US government bonds.If on the other hand China were actually able to reduce its net ownership of US dollar assets, the only reason US interest rates would rise is because US growth picked up. US debt would actua...

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