Barron's: Foreign Central Banks Are Loading Up on T-Bills, Selling U.S. Bonds
Article by Karishma Vanjani in Barron's
Foreign institutions, an essential group of buyers of U.S. government debt, continue to go all in on short-term Treasury bills while dumping longer-term U.S. debt at a swift pace.
For four straight months through February, foreign central banks and other government agencies have sold Treasury bonds and notes, or debt that matures in over a year, the latest Treasury Department data show. At the same time, they have been consistently buying shorter-dated bills that are virtually risk free and repay in less than a year.
Taken together, that signals foreign governments could be pessimistic on the long-term prospects of the U.S. while trying .....