Russia Dumps US Treasuries As Rates Climb (From Russia With Love?)

As predicted, Russia has reduced its holdings of US Treasuries as US rates continue to rise.


But Russia is a relatively small player in the US Treasury market (unless they are using proxies like postage-stamp sized Luxembourg, Ireland or the Cayman Islands).


As The Federal Reserve SLOWLY unwinds its balance sheet, I am surprised that Japan and China have not unloaded MORE of their Treasury holdings.

Here is Vlad Putin singing “From Russia With Love.”

Vladimir Putin