According to today’s US Treasury data, China’s holding of U.S. debt fell to $1.1326 billion, the lowest in the past year. And Russia cut its Treasury holdings by more than half in the past year from $176 billion to less than $80 billion. You will also be surprised that Malaysia had increased its holding of this US Treasury by 10% over the last 2 mths.

Are we seeking more safety in US Dollars ?

This is worrying sign that Malaysia too may resolve to more money printing to purchase more Treasury. In contrast, Switzerland, Hong Kong and Singapore are reducing their exposure to US Treasury.