17 August 2023
Saudi Arabia’s US Treasuries holdings have plummeted 41% since 2020, reaching their lowest levels in over six years with a $3 billion offload in June. In a similar move, China divested $11.3 billion in June. This downturn aligns with a broader shift among Gulf nations, signifying diminishing confidence in US financial assets. Such significant divestments could destabilize US interest rates and impact the broader financial framework.