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Foreign central banks and governments, particularly China/Hong Kong and Japan, have significantly reduced their holdings of US Treasuries. This move by Japan was linked to raising USD for yen intervention, while China's reduction was amid concerns over the Iran war and Federal Reserve uncertainty.
Foreign central banks have significantly reduced their holdings of US Treasury bonds at the New York Federal Reserve to their lowest level since 2012, reportedly selling these assets to support their economies and currencies amidst the ongoing war with Iran.
China's central bank, the People's Bank of China (PBOC), has announced a new mechanism aimed at increasing the adoption and usage of the Yuan by central banks globally.
The ongoing conflict, now described as a widening war, continues to drive up global oil and fuel prices, with oil settling near a 4-year high, leading to an 'energy shock' and potentially moving the oil market into demand destruction mode.
Foreign central banks have increased their holdings of Malaysian bonds to a record share, indicating growing international interest in the country's debt market.
Foreign central banks, particularly those from oil-importing nations, have significantly reduced their holdings of US Treasury bonds at the New York Federal Reserve, driven by increased payments for dollar-denominated oil.