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Chinese banks increase US Treasury holdings
Sources have indicated that Chinese banks have recently purchased U.S. Treasury bonds, benefiting from their yields exceeding 4.76% following the increase in dollar deposit interest rates. This shift in the strategy of Chinese banks comes despite their hesitation to convert yuan into dollars due to regulatory scrutiny. The aim is to attract dollar deposits for investment in American bonds, especially amid declining returns on domestic Chinese bonds. Additionally, this move helps counteract the significant drop in Chinese bond yields, supporting their focus on safe and attractive assets as Chinese investors' interest in U.S. bonds continues to grow.
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