A trio of BRICS member nations are unloading billions upon billions of dollars worth of US Treasuries.

New numbers from the U.S. Treasury Department show China’s ownership of Treasury securities plunged from $821.5 billion in July to $805.4 billion in August – a decrease of about $16.4 billion.

Fellow BRICS member India also pared its US Treasury holdings by $1.5 billion in the same time frame, from $227.4 billion down to $223.2 billion.

And Brazil slashed its ownership of US Treasuries from $233.1 billion in July to $232.5 billion in August, a reduction of $600 million.

All in all, the BRICS trio sold off $18.5 billion worth of US government-backed securities.

China, the second-largest foreign holder of US Treasuries, has consistently sold off its Treasury trove this year since it peaked in March at $869.3 billion.

Earlier this month, Adam Kobeissi, founder and editor-in-chief of The Kobeissi Letter, said that China could be unloading its Treasury holdings due to a potential economic downturn.

Last week, Kobeissi reported that China appears to be “heading for a recession” as the country’s HY (high-yield) real estate index dropped 85% from its high.

Said Kobeissi,

“This week, news broke that China is planning a stimulus package to support its economy. Last month, China lowered interest rates on nearly $6 trillion worth of mortgages. Something is clearly happening in China.” 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post $18,500,000,000 in US Treasuries Sold by BRICS Trio of China, India and Brazil in One Month appeared first on The Daily Hodl.

A trio of BRICS member nations are unloading billions upon billions of dollars worth of US Treasuries.

New numbers from the U.S. Treasury Department show China’s ownership of Treasury securities plunged from $821.5 billion in July to $805.4 billion in August – a decrease of about $16.4 billion.

Fellow BRICS member India also pared its US Treasury holdings by $1.5 billion in the same time frame, from $227.4 billion down to $223.2 billion.

And Brazil slashed its ownership of US Treasuries from $233.1 billion in July to $232.5 billion in August, a reduction of $600 million.

All in all, the BRICS trio sold off $18.5 billion worth of US government-backed securities.

China, the second-largest foreign holder of US Treasuries, has consistently sold off its Treasury trove this year since it peaked in March at $869.3 billion.

Earlier this month, Adam Kobeissi, founder and editor-in-chief of The Kobeissi Letter, said that China could be unloading its Treasury holdings due to a potential economic downturn.

Last week, Kobeissi reported that China appears to be “heading for a recession” as the country’s HY (high-yield) real estate index dropped 85% from its high.

Said Kobeissi,

“This week, news broke that China is planning a stimulus package to support its economy. Last month, China lowered interest rates on nearly $6 trillion worth of mortgages. Something is clearly happening in China.” 

Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post $18,500,000,000 in US Treasuries Sold by BRICS Trio of China, India and Brazil in One Month appeared first on The Daily Hodl.