Treasury Sell-Off Is a China Syndrome
The Asian nation's domestic concerns are driving sales of U.S. government debt.
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Just looking at the numbers, it appears as if foreign investors are broadly dumping U.S. Treasuries at an unprecedented rate.
On the surface, this is an alarming development, considering that these investors own almost half of the Treasuries outstanding. Their flight could signal a drastic rise in borrowing costs for the world's biggest economy.