Saudi U.S. Treasury Holdings Surge 41% in 2017.

Chinese Treasury Holdings Rise to $1.89 Trillion in October – near a 12 Month High.

Russian U.S. Treasury Holdings up 41% since October 2016 (+$30 billion); at Highest Level since September 2014.

Chinese US Treasury Holdings are up $139.9 billion since November 2016

Brazil, Switzerland, UK, Saudi Arabia, India and France also boost holdings signficantly in 2017.

Saudi Threats to Dump Treasuries over 9/11 issue don’t materialize as Saudi U.S. Treasury holdings surge 45% over the past 12 months.

Higher U.S. Interest Rates, New U.S. Administration, Improving Chinese and Russian Finances Lead to Surge in Treasury Buying.

Re-Dollarization?

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Foreigners Loading Up on U.S. Treasuries Again

Foreign holdings of U.S. Treasuries grew $354 billion from November 2016 -October 2017.

U.S. Dollars constituted over $6.3 trillion in foreign reserves, while Chinese Yuan were at $107 billion at the end of the third quarter of 2017.

Source: IMF

Dollar Collapse?

Saudi Arabian Holdings of U.S. Treasuries

China and Russia Add To Their U.S. Treasuries Positions

China and Russia may be working on developing their own digital currencies, but in the meantime they are also rebuilding their stacks of U.S. Treasury securities they sold off during the past few years.

China was particularly troubled when the U.S. Federal Reserves embarked on quantitative easing in 2009 and took interest rates to zero. Russia sold off a good portion of its Treasuries after the US and other nations imposed sanctions on Russia in 2014. Both countries developed de-dollarization initiatives in response to U.S. monetary and foreign policies that included selling U.S. Treasuries and adding gold to their foreign reserves.

China and Russia have stopped selling their U.S. Treasury holding and began buying Treasuries late last year.

Chinese Holdings of U.S. Treasury Securities

Chinese are the number one foreign holder of U.S. Treasuries

Russian Holdings of U.S. Treasury Securities

Russian holdings of U.S. Treasuries increased 36% from September 2016 to September 2017.

Saudi Arabian Holdings of U.S. Treasury Securities

In April 2016, Saudi Arabia threated to dump its US Treasury holdings if the US Congress passed the 9/11 bill. Congress passed the bill in September of 2016, President Obama vetoed the bill and on September 28, 2016, congress overwhelmingly voted to override the President’s veto.

Despite threats to dump U.S. Treasuries, Saudi Arabia has added them to reserves.

Foreign Holdings of U.S. Treasury Securities Source: http://ticdata.treasury.gov

Further Reading

The Fed protects the dollar first and foremost, not the stock market or even the too big to fail shareholder interests. Without the dollar neither of the latter two can function. Everything runs on the dollar.

IS THE U.S. DOLLAR BECOMING THE NEW PETRO DOLLAR?

DOES THE FED NEED TO RAISE INTEREST RATES TO COMBAT DE-DOLLARIZATION INITIATIVES? (April 2015)

The Fed WILL Raise Rates This Year ( June 2015)

WHY THE FED RAISED INTEREST RATES (December 2015)

WHY THE FED RAISED RATES LAST YEAR AND WILL DO SO AGAIN THIS YEAR (May 2016)

HOW THE FED MANAGES THE DOLLAR AND AVOIDS COLLAPSE June 2016

TRUMP SHIFT TO CHINA: DOLLAR PROTECTION STRATEGY? April 2017

WHY SAUDI ARABIA MATTERS IN HELPING TO KEEP THE U.S. DOLLAR AS THE WORLD’S RESERVE CURRENCY (October 2013)

From US Treasury.gov
About TIC Data

The monthly data on holdings of long-term securities, as well as the monthly table on Major Foreign Holders of Treasury Securities, reflect foreign holdings of U.S. securities collected primarily on the basis of custodial data. These data help provide a window into foreign ownership of U.S. securities, but they cannot attribute holdings of U.S. securities with complete accuracy. For example, if a U.S. Treasury security purchased by a foreign resident is held in a custodial account in a third country, the true ownership of the security will not be reflected in the data. The custodial data will also not properly attribute U.S. Treasury securities managed by foreign private portfolio managers who invest on behalf of residents of other countries. In addition, foreign countries may hold dollars and other U.S. assets that are not captured in the TIC data. For these reasons, it is difficult to draw precise conclusions from TIC data about changes in the foreign holdings of U.S. financial assets by individual countries.

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