China Dumping More Than Treasuries as U.S. Stocks Join Fire Sale

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For the past year, Chinese selling of Treasuries has vexed investors and served as a gauge of the health of the world’s second-largest economy.

The People’s Bank of China, owner of the world’s biggest foreign-exchange reserves, burnt through 20 percent of its war chest since 2014, dumping about $250 billion of U.S. government debt and using the funds to support the yuan and stem capital outflows.

While China’s sales of Treasuries have slowed, its holdings of U.S. equities are now showing steep declines. Continue reading

Get ready for a ‘fire sale’ of Greek islands

The upmarket property company says in its latest Islands Report: “As the long-term ramifications of Greece’s financial bailout play out more fire-sales of Greek islands are expected.”

About 20 Greek islands were put on the market last year, and Knight Frank expects more to follow as the implications of the property tax begin to hit home for more owners. Continue reading