178
Global central bank to sell U.S. debt hit a new high of nearly 40 years of safe haven or abandoned
2018/4/24
[in China's holdings of U. S. Treasury $32 billion, hold a scale down to since January this year, the lowest level, total holdings for $1.24 trillion, still is the first major American national debt held by the country; among the second Japan June holdings of $14.5 billion. The total size increased to $1.15 trillion. ]
Ten year bond in the United States experienced a rate hike is lower than expected, after the British off Europe and other events, the current yield of only about 1.55%. ]
"Safe haven", a "safe haven", is now being sold at record rates by the global central bank. In the first half of this year, the global central bank sold a total of $192 billion in U.S. Treasury bonds, which is two times the size of the same period last year. According to the U.S. Treasury data, such a large sale of U.S. debt hit at least since 1978, the highest record. China, Japan, France, Brazil and Columbia have become the main countries to sell debt this year.
The Fed's balance sheet released in August 11th showed that the amount of U.S. Treasury bonds hosted by the Federal Reserve has dropped from $3 trillion and 30 billion in July 2015 to $170 billion, to $2 trillion and 860 billion. U.S. Treasury bonds held by overseas investors hit a new low since 2012, and this trend continues.
U. S. Treasury Department on Monday (August 15) released the report on international capital flows (TIC) display, June including central bank, foreign official institutions to sell $335 billion of U. S. treasury bonds, for the third consecutive month selling, 5 months for $182.9 billion in April to a record $746 billion. Over the past year, the global central bank sold a total of 335 billion 200 million U.S. dollars of U.S. Treasury bonds, the selling rate and selling rate is unprecedented.
Specifically, in June, China reduced holdings of U.S. Treasury debt of $3.2 billion, hold a scale down to since January this year, the lowest level, total holdings for $1.24 trillion, still is the first major American national debt held by the country; among the second Japan June holdings of $14.5 billion. The total size increased to $1.15 trillion. Ireland and China, ranked third in the United States and Japan, the size of the U.S. Treasury holdings far, in June holdings of $10 billion 800 million, the total size of the United States debt held by Ireland is only $270 billion 600 million. In June the U.S. debt held the top five countries are China, Japan, Ireland, the Cayman Islands, Brazil.
"In the current context, the U.S. debt attraction led to the gradual decline in the central bank to sell." On August 18, China Merchants Securities fixed income research director Sun Binbin to accept the "First Financial Daily" reporter the interview said hand fed rate hike expectations though swing does not decide, but the interest rate may still exist; from an investment perspective, the U.S. Treasury yield rate continues to decline, less attractive; in addition, in June due to British referendum accident off the European market is expected to lead to deviations have begun to adjust, be held over the U. s.debt appear certain sell-off.
As for China in recent years the overall holdings of U.S. debt, sun Binbin think, our country faced with foreign currency depreciation pressure, through the reduction to U.S. debt, to balance the balance sheet, "past our country foreign exchange inflows continued, the central bank has a large number of dollars to buy U.S. debt, but now capital outflows increased, so to holdings of U.S. debt."
All along, the U.S. Treasury has been regarded as one of the world's most secure assets, China, Japan, represented by a large number of countries are holding a large number of u.s.. However, as this year's "black swan" events occur frequently, the increase in volatility in the foreign exchange market, resulting in many countries had to go through selling U.S. debt to get cash in the market to buy their own currencies, to help support the value of their currencies, avoid continued to depreciate. Insiders suggested that the continued selling of U.S. Treasury bonds is the performance of the global economic weakness.
At the same time, in the context of the global economy continues to slump, all kinds of asset yields have sharply downward, investors are generally faced with the plight of asset shortage. Haitong Securities (15.820,0.00, 0.00%) of fixed income chief analyst Jiang Chao team through statistical 46 countries of the 10-year bond yield to maturity rate, with 23 government bonds yield to maturity rate of less than 2%, which Switzerland and Germany has emerged of negative interest rates.
The United States ten years period of bonds in the experience a rise in interest rates lower than expected, the British off events in Europe after, the current yield only at about 1.55%, the ten-year bond yields in China is still in 2.65%~2.70% fluctuations, in all countries in the middle and high level, Sino US 10-year government bonds spreads still more than 100bp, and at the end of last year is less than 50bp.
And US Treasuries suffered sharp sell-off in stark contrast, the UK government bonds especially long bonds recently by investors snapped up.
At present, UK 40 year and 50 year bond yield rate were 1.219%, 1.215%, significantly lower than the British 25 years and 30 years Treasury, which, 50 year gilts in the UK even close to flat on a 20-year bond 1.216% income rate, yield inversion phenomenon.
The world's largest asset manager BlackRock Inc. in British policy department in charge of AndyTunningley said global bond yields of landslide stimulated the pension fund demand for UK government bonds. At the same time, due to the Bank of England expanded the size of the debt purchase is result of the UK government bonds now in short supply situation.
Ten year bond in the United States experienced a rate hike is lower than expected, after the British off Europe and other events, the current yield of only about 1.55%. ]
"Safe haven", a "safe haven", is now being sold at record rates by the global central bank. In the first half of this year, the global central bank sold a total of $192 billion in U.S. Treasury bonds, which is two times the size of the same period last year. According to the U.S. Treasury data, such a large sale of U.S. debt hit at least since 1978, the highest record. China, Japan, France, Brazil and Columbia have become the main countries to sell debt this year.
The Fed's balance sheet released in August 11th showed that the amount of U.S. Treasury bonds hosted by the Federal Reserve has dropped from $3 trillion and 30 billion in July 2015 to $170 billion, to $2 trillion and 860 billion. U.S. Treasury bonds held by overseas investors hit a new low since 2012, and this trend continues.
U. S. Treasury Department on Monday (August 15) released the report on international capital flows (TIC) display, June including central bank, foreign official institutions to sell $335 billion of U. S. treasury bonds, for the third consecutive month selling, 5 months for $182.9 billion in April to a record $746 billion. Over the past year, the global central bank sold a total of 335 billion 200 million U.S. dollars of U.S. Treasury bonds, the selling rate and selling rate is unprecedented.
Specifically, in June, China reduced holdings of U.S. Treasury debt of $3.2 billion, hold a scale down to since January this year, the lowest level, total holdings for $1.24 trillion, still is the first major American national debt held by the country; among the second Japan June holdings of $14.5 billion. The total size increased to $1.15 trillion. Ireland and China, ranked third in the United States and Japan, the size of the U.S. Treasury holdings far, in June holdings of $10 billion 800 million, the total size of the United States debt held by Ireland is only $270 billion 600 million. In June the U.S. debt held the top five countries are China, Japan, Ireland, the Cayman Islands, Brazil.
"In the current context, the U.S. debt attraction led to the gradual decline in the central bank to sell." On August 18, China Merchants Securities fixed income research director Sun Binbin to accept the "First Financial Daily" reporter the interview said hand fed rate hike expectations though swing does not decide, but the interest rate may still exist; from an investment perspective, the U.S. Treasury yield rate continues to decline, less attractive; in addition, in June due to British referendum accident off the European market is expected to lead to deviations have begun to adjust, be held over the U. s.debt appear certain sell-off.
As for China in recent years the overall holdings of U.S. debt, sun Binbin think, our country faced with foreign currency depreciation pressure, through the reduction to U.S. debt, to balance the balance sheet, "past our country foreign exchange inflows continued, the central bank has a large number of dollars to buy U.S. debt, but now capital outflows increased, so to holdings of U.S. debt."
All along, the U.S. Treasury has been regarded as one of the world's most secure assets, China, Japan, represented by a large number of countries are holding a large number of u.s.. However, as this year's "black swan" events occur frequently, the increase in volatility in the foreign exchange market, resulting in many countries had to go through selling U.S. debt to get cash in the market to buy their own currencies, to help support the value of their currencies, avoid continued to depreciate. Insiders suggested that the continued selling of U.S. Treasury bonds is the performance of the global economic weakness.
At the same time, in the context of the global economy continues to slump, all kinds of asset yields have sharply downward, investors are generally faced with the plight of asset shortage. Haitong Securities (15.820,0.00, 0.00%) of fixed income chief analyst Jiang Chao team through statistical 46 countries of the 10-year bond yield to maturity rate, with 23 government bonds yield to maturity rate of less than 2%, which Switzerland and Germany has emerged of negative interest rates.
The United States ten years period of bonds in the experience a rise in interest rates lower than expected, the British off events in Europe after, the current yield only at about 1.55%, the ten-year bond yields in China is still in 2.65%~2.70% fluctuations, in all countries in the middle and high level, Sino US 10-year government bonds spreads still more than 100bp, and at the end of last year is less than 50bp.
And US Treasuries suffered sharp sell-off in stark contrast, the UK government bonds especially long bonds recently by investors snapped up.
At present, UK 40 year and 50 year bond yield rate were 1.219%, 1.215%, significantly lower than the British 25 years and 30 years Treasury, which, 50 year gilts in the UK even close to flat on a 20-year bond 1.216% income rate, yield inversion phenomenon.
The world's largest asset manager BlackRock Inc. in British policy department in charge of AndyTunningley said global bond yields of landslide stimulated the pension fund demand for UK government bonds. At the same time, due to the Bank of England expanded the size of the debt purchase is result of the UK government bonds now in short supply situation.
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