Treasury International Capital net flows rebounded in July with France and Norway the biggest buyers of Treasury bonds (+$17.6bn and $11.1bn respectively) but more notably, China was the biggest seller (dumping $7.7bn to six-month lows).
TIC flows rebounded notably…
Russia and Caymans (hedge funds) were practically unchanged in July.
And while Japan was a buyer…
And Turkey bid for some (after being a big seller)…
China dumped the most since January, taking its holdings to the lowest since January…
Al of which makes us wonder… was China selling today also?
The Treasury selling in July lines up well with the shift in China’s Yuan ‘weaponization’ and the spike in yields then too…
