Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
The final week of August could be highly volatile as markets fret over the economy and the latest developments in trade wars.Market Insiderread more
Federal Reserve Vice Chair Richard Clarida said Friday that the global economy has deteriorated in the past month.Marketsread more
The latest escalation in the trade war ups the odds the economy will fall into recession and that the Fed will aggressively cut rates.Market Insiderread more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
"We don't need China and, frankly, would be far better off without them," Trump tweeted.Politicsread more
Recent trade friction between the two Asian powerhouses has morphed into a dispute with political implications that go far beyond the region.Asia Politicsread more
"My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?" Trump wrote amid a series of tweets that rattled markets Friday.Politicsread more
"I would love this to be clarified. We come to a deal on trade, boy, this market is up 10 to 15%, but without it's going to be worrisome," Jeremy Siegel says.Marketsread more
Tesla solar energy systems reportedly ignited at an Amazon warehouse in Redlands, California last June, and the Seattle e-commerce titan confirmed that it has no further plans...Technologyread more
China trimmed its holdings of U.S. Treasurys in August by about $6 billion, to the lowest level since June 2017.
China's holdings of Treasury bills, notes and bonds fell to $1.165 trillion, from $1.171 trillion in July, according to U.S. Treasury data. It is the third month of decline, and well below the recent high of $1.2 trillion a year earlier.
Bond traders have been watching to see if China is intentionally reducing its holdings of U.S. Treasurys because of friction over the trade spat with the U.S., but market pros do not believe the reduction is meaningful. It also came at a time of currency volatility this past summer.
"The fact you're seeing a slow downward drift is not surprising," said Jon Hill, U.S. rates strategist at BMO. He said Chinese holdings are now the lowest since June 2017, when they were at $1.147 trillion. "
China is the largest holder of U.S. Treasurys followed by Japan, which also reduced its holdings in August. Japan's holdings fell to $1.030 trillion from $1.036 trillion in July.
"It's something a lot of people are paying attention to given its importance to the market," Hill said. "I would be hesitant to draw too direct a comparison to 2015 and 2016 just because the decline has been much more moderate and much slower than we saw in previous periods."
In July, China's holdings of U.S. Treasury bills, notes and bonds dropped to a six month low of $1.171 trillion, from $1.178 trillion in June
"The Treasury market is growing the government is issuing more Treaurys so foreign buyers are still significant participants but overall in the relative sense, their share of the Treasury market has been in decline for several years. This is just a confirmation of that,:" said Boris Rjavinksi, rates strategist at Wells Fargo.