China’s holdings of US government bonds are even higher than this week’s dramatic upward revision by the Treasury Department, say strategists.
On Monday, the Treasury released its annual revision of US Treasury securities held by foreign investors, which sent China’s holdings to $1,160bn at the end of December from a prior estimate of $892bn made just two weeks ago.
The true figure, however, is closer to $1,300bn according to Michael Pond, interest rate strategist at Barclays Capital. Mr Pond’s estimate is based on revised Treasury data that shows UK buying rose from $94.5bn in June to $272bn by the end of December.
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