Vitaliy Liberman of DoubleLine noticed that US Treasuries and agency mortgage-backed securities held by Canada rose more than fourfold in five years, to nearly $600 billion, even as US-Canada trade ties soured. Many Wall Street experts believe much of this may actually belong to China, though official data show Beijing has cut its Treasury holdings to about $618 billion, roughly half its earlier level. The theory is that China could shift assets to custodian banks in other countries, but there is no direct evidence, and several major Canadian institutions said they were not active buyers. One strategist suggests part of the increase may stem from Canadian hedge funds running basis trades, while Natixis economist Alicia Garcia-Herrero doubts China is cutting US assets as quickly as the data suggest, given its trade surplus of over $1 trillion.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Trung Quốc âm thầm mua 600 tỷ USD trái phiếu Mỹ?
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