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Surplus economies dollars not flowing to U.S. Treasuries, Brad Setser notes

Surplus economies dollars not flowing to U.S. Treasuries, Brad Setser notes
Surplus country dollars avoid U.S. Treasuries

Brad Setser raises the point that economic surpluses and deficits are fundamentally connected, suggesting that one cannot exist without the other.

He observes that, at present, the dollars held by surplus economies are not directly being reinvested into U.S. Treasuries.

Setser has previously highlighted the sustained influence of Asian government pension funds such as NPS and GPIF on market movements, according to earlier reporting. In addition, he has observed that China is moving some reserves away from the dollar toward agency securities, with formal reserves at 55 percent in dollars, as detailed in a separate article. These developments offer further context to the current trends in dollar holdings and U.S. Treasury investments.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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