Foreign Official Institutions Sold Treasuries in March as Dollar Jumped 2.4%
Updated
Updated · Bloomberg · May 27
Foreign Official Institutions Sold Treasuries in March as Dollar Jumped 2.4%
1 articles · Updated · Bloomberg · May 27
Foreign official holdings of US Treasuries fell in March after reaching a record high, with Goldman Sachs linking the drop to reserve managers selling into a stronger dollar.
A 2.4% rise in the Bloomberg Dollar Spot Index — its biggest monthly gain since July — made the currency move a key drag on valuation-adjusted foreign official Treasury demand, strategist Isabella Rosenberg wrote.
The selling came during the first month of the US-Iran conflict, which Goldman said helped drive the dollar surge that weighed on overseas demand for Treasuries.
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