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The Most Powerful Buyers in Treasuries Are All Bailing at Once

  • Fed, foreign governments, commercial banks all stepping back
  • More pain for bond investors may be in store amid buyer void
Bloomberg business news
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Everywhere you turn, the biggest players in the $23.7 trillion US Treasuries market are in retreat.

From Japanese pensions and life insurers to foreign governments and US commercial banks, where once they were lining up to get their hands on US government debt, most have now stepped away. And then there’s the Federal Reserve, which a few weeks ago upped the pace that it plans to offload Treasuries from its balance sheet to $60 billion a month.