🇺🇸 Foreign holdings of US Treasuries fell to $9.299 trillion in June from $9.371 trillion in May. Japan, the largest non-US holder, cut its position 2.3% to $1.116 trillion, well below the November 2021 peak of $1.325 trillion.
Three months of net selling, $56 billion, against twelve months of net buying, $205 billion. The 60-day US-Iran truce expires unresolved and corporate issuance stays heavy. Both point the same direction: heavier issuance meeting thinner foreign demand, with yields the release valve.
Three months of net selling, $56 billion, against twelve months of net buying, $205 billion. The 60-day US-Iran truce expires unresolved and corporate issuance stays heavy. Both point the same direction: heavier issuance meeting thinner foreign demand, with yields the release valve.