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Business/Finance
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Title: The great dollar dump: Russia liquidates US Treasury holdings
Source: [None]
URL Source: https://www.rt.com/business/433566- ... ia-dumps-us-treasury-holdings/
Published: Jul 18, 2018
Author: staff
Post Date: 2018-07-18 06:59:26 by Tatarewicz
Keywords: None
Views: 1075
Comments: 9

RT...

Russia is continuing to diversify state reserves away from US debt. The latest data from the US Treasury shows that Russia's share hit an 11-year minimum and totaled only $14.9 billion.

The share of US sovereign debt bonds in Russia's portfolio has been reduced dramatically in recent months. Russia held $96.1 billion in US Treasuries in March before selling half its holdings in April, dropping to 22nd place among major foreign holders of American treasury securities at $48.7 billion. Read more © Ilya Naymushin Russia gets rid of US Treasury securities and buys gold

In 2010, Russia was among the top 10 holders of US Treasuries at $176.3 billion. With its holdings falling to $14.9 billion in May, the country is now below the $30 billion threshold for inclusion on the Treasury Department’s monthly report of major holders. On Tuesday, the Treasury released a list of 33 countries which includes the biggest holder China to the smallest Chile. Russia is no longer on the list.

A treasury bond is a fixed-interest government debt security with a maturity of more than 10 years. Treasury bonds make interest payments twice a year. The gradual sell-off of US sovereign debt started in 2011, and has intensified over recent years amid numerous rounds of sanctions imposed by the White House against Russia.

The head of the Central Bank of Russia (CBR) Elvira Nabiullina said in May that slashing of the holdings was result of the systematic assessment of all kinds of risks, including financial, economic and geopolitical.

Meanwhile, Russia’s gold holdings have been steadily increasing, bringing its share of the precious metal to its highest level in nearly two decades. Russia’s gold holdings in May grew by one percent to 62 million troy ounces, worth $80.5 billion, according to the CBR. According to Nabiullina, gold purchases helped to diversify reserves.

Global geopolitical conflicts along with trade tensions triggered by the US earlier this year have made some countries follow suit. Turkey nearly halved its US Treasury holdings from almost $62 billion in November to $32.6 billion in May. Germany has reduced its holdings from $86 billion in April to $78.3 billion in May.

Asked about Russia’s absence, a US Treasury spokesman said the Treasury market is the deepest and most liquid in the world, and demand remains robust, reports Bloomberg. He added that the department doesn’t comment on individual investors or investments.

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#1. To: Tatarewicz (#0)

Russia never held enough US treasuries to matter. However, if China starts dumping, it will matter and even more so because then the value would drop so Japan and other countries would start dumping US treasures and dollars because no country wants to be the last to sell.

DWornock  posted on  2018-07-19   12:07:23 ET  Reply   Untrace   Trace   Private Reply  


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#2. To: DWornock, HAPPY2BME-4UM (#1)

Scary. Under what circumstances could you see it happen -- too much provocation and insult from DC? Unilateral economic meltdown in China?

NeoconsNailed  posted on  2018-07-19 12:15:29 ET  Reply   Untrace   Trace   Private Reply  


#3. To: DWornock (#1)

China not likely to dump; still needs US tech stuff. Even more, needs US market unless Trump shuts them out and/or China is overwhelmed with exports to ME, Europe, Africa, S America.

Tatarewicz  posted on  2018-07-20 02:41:48 ET  Reply   Untrace   Trace   Private Reply  


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