China Dumps US Asset Backeds and Corporates

(INNER WORKINGS/ASIA TIMES ONLINE) — Dollar-denominated risk assets, including asset-backed securities and corporates, are no longer wanted at the State Administration of Foreign Exchange (SAFE), nor at China’s large commercial banks. The Chinese government has ordered its reserve managers to divest itself of riskier securities and hold only Treasuries and US agency debt with an implicit or explicit government guarantee.

via Inner Workings » Blog Archive » China Dumps US Asset Backeds and Corporates.

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