Back in February of last year I detailed that China was NOT selling Treasuries when the "experts" in the media said they were. TIC December 2009 data initially stated Chinese holdings totalled a bit more than $700 billion, down from summer '09 levels. I made the case that these purchases were actually being made through the United Kingdom (more here). They were. The result is that China's December 2009 holdings were revised upward by $200 billion.
"Experts" in the media would have learned their lesson by now right?
To the Financial Times:
The FT was joined by the WSJ, CNN, and Marketwatch amongst others getting it wrong. Bloomberg got it right here, but wrong here.
China and Russia were the major sellers of US Treasuries in November as bond yields surged sharply higher that month, according to the latest government data.
The US Treasury reported on Tuesday that private investors sought more dollar-denominated stocks and bonds in November than October, offsetting record sales by foreign governments.
1) Journalist do not read EconomPic
2) China is NOT selling Treasuries