China Feeding on Treasuries Straight from the Trough
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Reports out of Reuters say China has been bypassing Wall Street and placing orders for treasuries directly from the U.S. government. This is a one of a kind arrangement that creates first-ever direct relationship with a foreign government.
China holds $1.17 trillion in U.S. Treasuries. Since 2011 China has been participating in auctions without placing bids through primary dealers.
According to Reuters, the U.S. Treasury Department has given the People's Bank of China a direct computer link to its auction system, which the Chinese first used to buy two-year notes in late June 2011.
China holds $1.17 trillion in U.S. Treasuries. Since 2011 China has been participating in auctions without placing bids through primary dealers.
According to Reuters, the U.S. Treasury Department has given the People's Bank of China a direct computer link to its auction system, which the Chinese first used to buy two-year notes in late June 2011.
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