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Japan Dumps Most Treasuries In History As Israel's 2019 Buying Spree Continues

Japan Dumps Most Treasuries In History As Israel's 2019 Buying Spree Continues

After plunging in August (US foreign net transactions saw a $41 billion outflow - the biggest monthly outflow since Dec 2018), September data showed a notable $49.47 billion rebound in flows...





Source: Bloomberg



Only Treasuries saw net selling




  • Foreign net selling of Treasuries at $34.3b




  • Foreign net buying of equities at $8.8b




  • Foreign net buying of corporate debt at $14.9b




  • Foreign net buying of agency debt at $26b





Source: Bloomberg



Rather notably Japan, after buying the most Treasuries since 2013 in August, dumped $28.9 billion in September - its biggest monthly cut in Treasury reserves ever...





Source: Bloomberg



China dumped Treasuries for the sixth month in the last seven to its lowest level of holdings since May 2017...





Source: Bloomberg



On the buy-side, little old Luxembourg has seen the biggest 2-month buying of Treasuries since August 2011 to a new record high...





Source: Bloomberg



And finally, we note that Israel continues to be an active buyer of US bonds (buying for the fifth of the last six months to a new record high)...





Source: Bloomberg



...quid pro quo?



The trend continues - albeit with a slowdown in the last month or two - as Treasury holdings tumble worldwide, gold reserves have been rising...





Source: Bloomberg




Tyler Durden

Mon, 11/18/2019 - 16:45