Saudi Arabia is the latest country to offload a massive amount of their US Treasury holdings.
In February 2020, their holdings peaked at $184 billion and are now down 41%, to $108 billion.
Meanwhile, China’s US Treasury holdings just fell to $835 billion, a fresh 14-year low.
Chinese holdings of US Treasuries are also down 40% from their highs and quickly dropping.
The global flight out of US Treasuries is concerning.
While China has been offloading US Treasuries for 10+ years, the rate has accelerated.
Both Canada and Mexico also now account for a higher % of US imports than China.
It seems like the trade war is back.
