China, Brazil, and Saudi Arabia, the original members of the BRICS, are covertly selling their holdings in US Treasury securities.
According to recent data from the U.S. Treasury Department, China’s ownership of Treasury securities decreased by $13.6 billion from $835.4 billion at the beginning of July to $821.8 billion at the last day of the month.
Brazil, a fellow BRICS member, reduced its Treasury holdings by $2.7 billion, from $227.4 billion to $224.7 billion, during the same period.
Saudi Arabia also reduced its holdings by $1.1 billion, from $108.1 billion to $109.2 billion.
India, another founding member of the BRICS, had a decline in its holdings of government bonds from $235.4 billion in June to $233.1 billion in July.