It's Not Just The Fed Interested In Purchasing US Treasuries

Who has been the most significant buyer of US Treasuries since the 2008 global financial crisis? The US Federal Reserve? While US central bank demand forces have been meaningful, they have not been the overwhelming factor in US bond market demand, a September 15 report from Oxford Economics points out. Credit goes to emerging market central banks as well as the private sector.

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Sources of US Treasury demand have moved in cycles with Emerging market central banks getting involved now

With the US Ten Year Note currently trading near 2.23%, after hitting a 2017 low of 2.01% earlier in the month, who in the world is buying US government debt?

It might...