The Fed did. Nearly everyone did. Even China nibbled again. Here’s who holds that monstrous $28.1 trillion US National Debt.
Biggest buyers: Mexico, South Korea, Japan, China, Spain, UK. Price spike in February, when Texas froze up, unwound. Asian LNG price spike in January is unwinding.
Other options also shaky. Central banks leery of Chinese RMB, its share still irrelevant. Euro’s share is stuck. But the yen’s share has been rising.
An increasingly important question, because someone always has to buy this debt – and it’s not just the Fed. But the share of foreign holders is waning.
“We are preparing for the possibility of further reductions to our schedules as the virus spreads.”
It’s not only Chinese tourists, business travelers, and property buyers who’re not showing up, but also travelers from all over the world who’ve gotten second thoughts about sitting on a plane.
Corporate America rerouted its supply chain to other countries.
On paper, this looked like a no-brainer.
US barely Cleanest Dirty Shirt among the manufacturing giants.
This scheme worked wonders for a while but has now run into trouble, and a lot is at stake.