It is the 19th of October 2017

News

China Treasury Holdings Rise For 6th Month, But The Streak May Soon Be Ending

According to the latest Treasury International Capital report issued today, four of the top five US foreign creditors added to their holdings of US Treasurys in the month of July (not adjusted for market price fluctuations), with the two largest, China and Japan, adding $19.5BN and $22BN to $1,113.1BN and $1.166BN, respectively (the Cayman Islands, i.e. hedge funds, saw a modest reduction from $265.2 to $259.2 billion). This was the 6th consecutive month of gains for China since its holdings dipped to multi-year lows in late 2016, bringing its Treasury holdings to the highest since August 2016. More surprising here is the steady bleed in Japanese TSY holdings, which despite the modest pick up in July have been on a steady downward trends since 2014.

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White House Denies WSJ Report That Trump Will Not Withdraw From Paris Climate Deal

Update: it took about 10 minutes for the White House to deny the WSJ report, with the NYT and Bloomberg reporting that a White House spokesman has denied the WSJ story claiming US might stay in Paris accords, saying "position hasn't changed."  Bloomberg confirms the White House comment, stating that there is "no change" in the US position on the Paris Deal, and that US will withdraw unless presented with "more favorable terms."

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