by Mike Larson, Money and Markets:
Did you hear the news out of the Treasury Department this morning? It
was an absolute disaster for the bond market — and for good reason:
Foreign holders dumped a whopping $40.8 billion in long-term Treasuries, the biggest exodus from bonds in the history of the U.S.
Worse, June was actually the third month of mass dumping in the past four, for a total of $79 billion. China, the biggest holder of our bonds, unloaded $21.5 billion, while Japan, the second-largest holder, dumped $20.3 billion.
Read More @ MoneyandMarkets.com
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Did you hear the news out of the Treasury Department this morning? It
was an absolute disaster for the bond market — and for good reason:Foreign holders dumped a whopping $40.8 billion in long-term Treasuries, the biggest exodus from bonds in the history of the U.S.
Worse, June was actually the third month of mass dumping in the past four, for a total of $79 billion. China, the biggest holder of our bonds, unloaded $21.5 billion, while Japan, the second-largest holder, dumped $20.3 billion.
Read More @ MoneyandMarkets.com
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