Goldman’s Houghton on Asia’s watchful bondholders
Talking Heads 2025: Fed independence and debt concerns could fuel new moves away from US debt, says Apac Ficc co-head
Asian investors have long favoured holding US Treasuries, not only for the duration and liquidity they offer – which can be tough to source in Asia’s markets – but also for the protection US government bonds provide in a crisis.
Historically, when markets have gone risk-off, investors have rushed to buy Treasuries, pushing prices up and strengthening the US dollar. But that pattern failed to repeat
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