Your Chart is misleading. The axes are on completely different scales.The max change in holdings is $250 bn whilst the change in reserves is $600bn. Meaning less than 50% of reserves sell-down is US denominated. I have no idea what that means, but it makes me doubt the rest of your conclusions.
Latest Comments
China's Record Dumping Of US Treasuries Leaves Goldman Speechless
Your Chart is misleading. The axes are on completely different scales.The max change in holdings is $250 bn whilst the change in reserves is $600bn. Meaning less than 50% of reserves sell-down is US denominated. I have no idea what that means, but it makes me doubt the rest of your conclusions.