China cut its holdings of US Treasuries in October for a fifth consecutive month amid a broader, declining foreign demand for US government debt as a strong dollar puts pressure on reserve managers.
China, which is the largest foreign holder of US Treasuries, cut its holdings by $12.5bn in October. This fifth straight month of outflows brought its holdings back to mid-2017 levels.
The country’s appetite for US government debt has garnered attention due to Beijing’s continued trade dispute with Washington, which has contributed to the renminbi falling toward an important threshold.
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