Frank Sellers
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
After collecting a little bit of US debt last year, the Russians have decided now to start dropping it.
In April, Russia liquidated about half of its stock of US Treasury bonds, up considerably from the rate of liquidation that it had been following in previous months, which amounted only to about $10 billion.
April’s selloff amounted to more than $47 billion.
Sputnik reports:
WASHINGTON (Sputnik) – Russia sold roughly half of the US Treasury bonds it owned bringing the total to $48 billion, Treasury Department data revealed.
In April, Russia sold $47.5 billion worth of Treasury Bonds, according to the data released on Friday.
The sale puts Russia at 22nd place from 16th in the list of US Treasury bondholders.
The sale comes following the two previous decreases. In March, Russia reduced the amount of US Treasury securities it holds, shedding $1.6 billion of treasury holdings.
In February, Russia reduced its US Treasury bond portfolio by a massive $9.3 billion from the previous months. Previously, Russia had been increasing its treasury holdings, which increased from almost $70 billion in March to more than $92 billion in December.China has remained the main holder of US bonds, its holding coming to over $1.18 trillion in March. Japan came second, with more than $1.03 trillion.
Maybe they’ve decided that US debt is a bad investment, and therefore decided to invest that capital elsewhere, or perhaps they intend to help it along in a slight inflation. Meanwhile, China and Japan hold the largest amount of US debt, and they are both presently on the receiving end of US trade tariffs, as Trump initiates his global trade war. China, however, gets the special status of an international villain, along with Russia, Iran, and Venezuela.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of this site. This site does not give financial, investment or medical advice.
Well done Russia; Dump the USD
Very interesting, and certainly smart and laudable. But remember… “trillion” is the new “billion”. “47 billion” is like “47 million”…
Not enough to sell US Treasuries before the system goes under. The $40-plus billion has to find a home in American products or another country that can facilitate its trade.
this seems a little bigger than a ‘soft power’ warning shot. with recent ‘sanctions and other bs’. this is a line drawn in the sand against US economic aggression
Guess the US cannot complain, when they have stated they are after Russia, via sanctions or going for corporations/people who hold US stock and concerns.
Remember, China dumping a lot of $US bonds, a couple of years ago. That is the one to watch, with the petro-Yuan, currency reserve. Russia and China turning away from the $US, together with Iran, refusing to trade in $US, sanctions or no sanctions.
Wonder when Russia will dump the rest?