Brian Chappatta, Columnist

Turkey’s U.S. Treasury Dump Is More Vexing Than Russia’s

The unprecedented decline only adds to concerns about an economic crisis.

August 16, 2018 at 3:24 PM UTC

Brian Chappatta is managing editor of Bloomberg News' leveraged finance and distressed debt teams. He was previously managing editor and team leader of its wealth group. Before that he was a Bloomberg Opinion markets and finance columnist and a bonds reporter for Bloomberg News.

A small player with a big problem.
Photographer: Ozan Kose/AFP/Getty Images

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A country in the crosshairs of American foreign policy has experienced a drastic decline in its ownership of Treasuries, falling off a list of “major foreign holders” of U.S. government securities. Sound familiar?

No, it’s not Russia. This time, it’s Turkey — and that could spell even bigger trouble for financial markets.