So clearly something is spooking the Russkies.
Courtesy of CNBC:
The Russian government, previously considered a “major” holder of U.S. debt, has been steadily — and sharply — paring down the vast majority of its holdings of U.S. Treasury securities.
Russian holdings of Treasury securities declined 84 percent between March and May, falling to $14.9 billion from $96.1 billion in just two months, according to a U.S. Treasury Department report released July 18.
Moscow’s ownership of U.S. debt is eclipsed by that of China and Japan, both of whom actively manage their currencies and hold more than $1 trillion each in Treasuries on their books. In fact, China’s vast holdings have been cited by some observers as a “nuclear option” in a Sino-American trade war, with the world’s largest economy seen vulnerable to Chinese selling that could drive up yields.
However, Russia’s moves in the market come amid a growing furor over Moscow’s suspected meddling in the U.S. general election in 2016, which has led to sanctions on its economy.
You know if I were a suspicious man I might think that the Russians were well aware that the Mueller investigation was about to find something big and are selling off these holdings before a new administration can come along and put in place some sanctions that will make it impossible for them to gain access to their money.
You know, if I were a suspicious man that is.