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Prices at the Pumps - April 17, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesNEW YORK - Foreign holdings of U.S. Treasuries surged to a record in February, its fifth straight monthly rise, Treasury Department data released on Wednesday showed.
Investors have been alert to the threat of Japanese intervention in the currency market to boost the yen, which plunged to a 34-year low of 154.79 per dollar on Tuesday. In September and October 2022, Japan's Treasury holdings declined $131.6 billion from $1.196 trillion in August. Holdings of Treasuries by China, the world's second largest economy, have been declining, reaching $763.5 billion in February, the lowest since March 2009.The benchmark 10-year Treasury yield started February at 3.863% and ended the month at 4.252%, up nearly 39 basis points. Yields rose as a slew of solid economic data was released that month, reflecting expectations that the Federal Reserve will delay cutting interest rates.On a transaction basis, U.S. Treasuries posted inflows of $88.
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