BlackRock CIO for FX, Rick Rieder, comments in an interview with Bloomberg TV
- "China is a bit of a wild card" on Treasury purchases
- China has become a very big player in all markets
- How they start to move things around is going to be significant
- Japan has turned into a net seller of Treasuries
It's starting to be a growing consensus over the last few days that China will not move to devalue the yuan in a trade spat against the US. But equally - if not more - as unlikely will be them deciding to dump US Treasuries instead.
His final comment on Japan turning into a net seller of Treasuries could have larger implications for the US and its twin deficits.