http://www.bloomberg.com/news/2014-01-15/china-s-treasury-holdings-rose-to-record-in-november-data-show.html
China’s holdings of U.S. Treasuries increased $12.2 billion to a record$1.317 trillion in November, data released on the Treasury Department’s website showed.
The figures, scheduled for release at 9 a.m. tomorrow in Washington, were inadvertently posted on the Treasury’s website. Japan’s holdings rose $12 billion to $1.186 trillion, the figures showed.
China’s swelling foreign-exchange reserves, reported today to have reached a world record $3.82 trillion at the end of December, may sustain the nation’s appetite for U.S. debt. Capital inflows and intervention to limit gains in the yuan have contributed to China building up currency holdings that are a third of the global total.
“Large interest-rate differential and steady appreciation of the renminbi contributed to large arbitrage inflows into China, a situation made all the more easy with China’s increasing financial integration and renminbi internationalization,” UBS AG Hong Kong-based economist Wang Tao wrote in a report on China’s data.
China’s pace of foreign-exchange reserve accumulation will be slower this year due to the Federal Reserve’s monetary tapering, likely widening of the yuan’s trading band and tighter controls on arbitrage activities, Wang said.
Early Release
A Treasury spokeswoman said that because of an error, limited amounts of data were posted on the department’s website ahead of the official release, and were removed as soon as it was discovered. The full November 2013 data will be released as previously scheduled at 9 a.m. tomorrow, she said.
The yuan this week reached 6.0406 per dollar, the strongest since the government unified the official and market exchange rates at the end of 1993. The latest data on China’s foreign-currency holdings contrasted with Yi Gang, a deputy governor at the central bank, saying in November that it was “no longer in China’s favor to accumulate foreign-exchange reserves.’
The U.S. data showed net long-term portfolio investment outflow was $29.3 billion in November after a revised inflow the month before of $28.7 billion, the Treasury’s figures showed. The total cross-border outflow in November, including short-term securities such as Treasury bills and stock swaps, was $16.6 billion, after a revised inflow of $188.1 billion in October, the data showed.
The Standard & Poor’s 500 Index (SPX) gained 2.8 percent in November. Investors in Treasuries lost 0.4 percent that month, according to Bloomberg World Bond (BUSY) Indexes. The Bloomberg U.S. Dollar Index, a gauge of the greenback’s value against 10 major currencies weighted by liquidity and trade flows, gained 0.9 percent in November.
Comparison.....
U.S. International Reserve Position
1/3/2014
The Treasury Department today released U.S. reserve assets data for the latest week. As indicated in this table, U.S. reserve assets totaled $144,245 million as of the end of that week, compared to $145,740 million as of the end of the prior week.
January 3, 2014
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A. Official reserve assets (in US millions unless otherwise specified) 1
|
144,245
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(1) Foreign currency reserves (in convertible foreign currencies)
|
Euro
|
Yen
|
Total
| |
(a) Securities
|
9,777
|
11,960
|
21,737
| |
of which: issuer headquartered in reporting country but located abroad
|
0
| |||
(b) total currency and deposits with:
| ||||
(i) other national central banks, BIS and IMF
|
14,848
|
5,897
|
20,745
| |
ii) banks headquartered in the reporting country
|
0
| |||
of which: located abroad
|
0
| |||
(iii) banks headquartered outside the reporting country
|
0
| |||
of which: located in the reporting country
|
0
| |||
(2) IMF reserve position 2
|
30,662
| |||
(3) SDRs 2
|
55,026
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(4) gold (including gold deposits and, if appropriate, gold swapped) 3
|
11,041
| |||
--volume in millions of fine troy ounces
|
261.499
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(5) other reserve assets (specify)
|
5,035
| |||
--financial derivatives
| ||||
--loans to nonbank nonresidents
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--other (foreign currency assets invested through reverse repurchase agreements)
|
5,035
| |||
B. Other foreign currency assets (specify)
| ||||
--securities not included in official reserve assets
| ||||
--deposits not included in official reserve assets
| ||||
--loans not included in official reserve assets
| ||||
--financial derivatives not included in official reserve assets
| ||||
--gold not included in official reserve assets
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--other
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FOREIGN EXCHANGE RESERVES - COUNTRIES - LIST
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