Saudi Pile of US Treasuries at Six-Year Low in Shift to Risk
- Kingdom sold over $3 billion of US government debt in June
- Gulf states invest in riskier assets as dollar backlash grows
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Saudi Arabia’s stockpile of US Treasuries fell to the lowest level in more than six years, as the kingdom allocates more of its oil wealth to riskier assets.
The Gulf country in June sold more than $3 billion in US government debt, offloading the securities for a third consecutive month to bring its holdings to $108.1 billion, according to Treasury Department data. The neighboring United Arab Emirates sold nearly $4 billion.