Treasury securities have lost their allure for foreign central banks and governments, whose holdings declined this year and in July dropped to $3.77 trillion at market value, roughly where they’d been in 2012, according to the Treasury Department’s TIC…
Traders have renewed bearish bets on US Treasuries, lifting expectations that the Federal Reserve will raise interest rates as oil prices and inflation push higher.
Treasuries maintained their losses after a key consumer prices gauge rose more than economists’ estimates, supporting wagers that the Federal Reserve will raise interest rates next year to control inflation.
A tenth of a percentage point of extra productivity growth — well within the range of plausible near-term AI effects — raises the fundamental value of U.S. government debt by $1.3 trillion.…