Foreigners Bought The Most Long-Term US Assets In March Ever

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by Tyler Durden
Monday, May 17, 2021 - 04:16 PM

After four straight months of buying, China sold $3.8 billion in Treasuries in March (the latest period for which TIC data was just released), reducing its holdings to $1.1 trillion.

Source: Bloomberg

China was not alone:

  • Japan holds $1.24t, a decrease of $17.7b from last month

  • Belgium holds $235.8b of U.S. Treasuries, a decrease of $0.9b from prior month

  • Cayman Islands (hedge funds) hold $215.2b, a decrease of $0.8b from last month

  • Saudi Arabia holds $130.8b, a decrease of $2.1b from last month

However, overall Foreign Official Institutions bought the second most Treasuries for any month on record...

And overall foreign purchases of US long-term assets hit a record $208 billion in March...

With the biggest corporate bond buying binge since Lehman ($43.1 billion, the most since May 2008)...

And the biggest last-12-months buying of stocks ever (at $408 billion)...

Quite an impressive set of flows as the rotation back from gold into bonds appears to be stabilizing...

We wonder how many central banks have been buying crypto?