93.2 DANGER! Foreigners are selling US Treasuries!

———Ep 93.1 Summary———
Foreigners were heavily selling US Treasuries in May 2021. Is this a GEOPOLITICAL plot? Is America’s BANKRUPTCY imminent?!? Almost certainly not. We review the LONG HISTORY of foreigners selling US Treasuries in acute periods of dollar shortage. May’s selling is a monetary warning.

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Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
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Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

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———Ep 93.2 Topics———

00:00 Show introduction: the Asian Financial Crisis and foreigners selling US Treasuries.
00:19 Show (potential) Video Transition: hawks, doves, bikinis, speedos, lasers, Yellen, Powell.
01:55 The 1997-98 Asian Financial Crisis was a prequel to the 2008 Global Financial Crisis.
04:48 The LIBOR spread between the Bank of Tokyo-Mitsubishi and Barclays was a warning signal.
07:35 The Federal Reserve’s meeting minutes are REDACTED as to how much they gave the BOJ.
11:25 Money dealers happily lent to Japanese banks at penalty rates, until risk shot up too far.
14:14 The Bank of Japan sold US Treasuries in 1998 to save its banks, like it did in 1963!
16:18 Treasury International Capital shows foreigners sell Treasuries in acute dollar shortages.
19:44 In May 2021 we once again observed TIC data showing foreigners selling Treasuries, ergo…
22:11 Foreigners selling US Treasuries is not the end of the world, just the wrong path.

———Ep 93.2 References———

Yet Another Key Warning Sign, Piece Of Strong Evidence: TIC & The Long Misunderstood History of Selling Treasuries: https://bit.ly/3yezqrV
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7


Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by David Parkins. Podcast intro/outro is “MUNEY” by Beiba from Epidemic Sound.