Foreign holdings of US Treasuries declines by 2nd largest amount EVER

The US balance sheet hit a new record last week, a mere $2.779 trillion. Most worryingly is that the Treasury securities held in custodial accounts at the Fed, which is considered to be the best representation of real time foreign holdings of US treasuries, fell by the largest amount in 4 years, the 2nd largest decline in history. It was topped only by the decline of the week ending 15th August 2007, which is when the world was ending!

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