Currency Wars Escalate As Fed Treasuries In Custody Tumble To 2012 Lows
by Tyler Durden
ZeroHedge.com
Aug 14, 2016
The latest custody data from the Fed shows that reserve manager holdings of Treasuries has tumbled by $17 billion in the past week, to the lowest effective level since late 2012. The prevailing hypothesis is that smaller central banks and reserve managers sell US paper to defend their currencies, while OPEC countries such as Saudi Arabia are quietly raising cash in an environment of low oil prices and acute budgetary tightness.
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