The Foreign Investors Who Bought the Recklessly Ballooning US Debt: July 2025 Update by Wolf Richter • Jul 18, 2025 • 91 Comments US Treasury debt surged by $441 billion since the debt ceiling, to $36.7 trillion. Foreign demand for this stuff is an increasingly important issue.
ECB Balance Sheet: QT Assets Drop by €64 Billion in June, by €3.18 Trillion from Peak, to €3.98 Trillion, Lowest since June 2020 by Wolf Richter • Jul 10, 2025 • 25 Comments It also wrote down its €1 trillion in gold by €30 billion due to its price decline in euros in Q2.
The (Declining) Status of the US Dollar as Global Reserve Currency: Central Banks Diversify into other Currencies & Gold by Wolf Richter • Jul 9, 2025 • 105 Comments There was an extra-special spectacle in Q1 among the Swiss franc, Australian dollar, British pound, and Japanese yen.
The Somewhat Bedraggled US Dollar against the Euro, Yen, Canadian Dollar, Dollar Indices, and Soft Currencies like the Indian Rupee by Wolf Richter • Jun 24, 2025 • 38 Comments No longer the cleanest dirty shirt.
How the ECB’s Mark-to-Market of its Gold Holdings to €1 Trillion and €3.1 Trillion in QT Affect its Balance Sheet by Wolf Richter • May 28, 2025 • 46 Comments Under QT, the ECB shed €3.1 trillion in bonds and loans. Separately, it wrote up its gold assets by €409 billion, or by 68%, to reflect soaring gold prices.
Status of US Dollar as Global Reserve Currency: Central Banks Diversify into Other Currencies and Gold by Wolf Richter • Mar 31, 2025 • 114 Comments The surge of the “nontraditional reserve currencies.”
US Dollar Crushes Euro, Yen, Canadian Dollar, other Currencies as Fed Backpedals on Pace of Rate Cuts by Wolf Richter • Nov 22, 2024 • 64 Comments Amid renewed inflation worries and above-average economic growth.
ECB’s Own Measure of Wage Increases Blows Fuse, Sets Off Alarms about Stubbornly Hot Services Inflation by Wolf Richter • Nov 20, 2024 • 57 Comments Meanwhile, the ECB’s QT marches on, balance sheet has shed €2.45 trillion since the peak, or 59% of its pandemic QE.
Which Foreign Countries Bought the Recklessly Ballooning US Debt: An Increasingly Crucial Question. Many Piled it up. Cleanest Dirty Shirt? by Wolf Richter • Oct 19, 2024 • 114 Comments Foreign investors had a big appetite all year for Treasury securities. But China lost interest, Japan struggled with the yen.
QT Continues: ECB Balance Sheet: -€2.39 Trillion or -27% from Peak, to €6.45 Trillion, Lowest since August 2020 by Wolf Richter • Aug 20, 2024 • 41 Comments Combined QT by the Fed and ECB removed $4.4 trillion in liquidity so far. A couple of years ago, this would have been an unimaginable feat.
