China’s Big Banks Have a Secret Weapon Against the Yuan – And It’s Made in America
AT A GLANCE
Chinese banks have been buying U.S. Treasuries for months, sources say, a previously unreported shift in strategy
Dollar deposit rates for large balances have jumped from a 2.8% cap to above 3%, even near 4% at some banks since August
The 10-year Treasury yield has climbed over 30 ba...
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