Jim Rickards: China Sold $102 Billion US Treasuries, Failed Debt Ceiling Deal Triggers US Recession


Two Dollars Investing
Jan 30, 2023

The benchmark 10-year U.S. Treasury yield rose 0.31% to 3.473% and the two-year yield rose 0.21% to 4.146% on Jan. 26 as a fresh round of selling of U.S. Treasuries continued. The U.S. debt ceiling issue has put tremendous pressure on the U.S. Treasury market. Ron O’Hanley, chief executive of State Street, warned that U.S. Treasuries could lose their traditional safe-haven role if the U.S. credit rating is downgraded.

Two days ago, several Fed governors reiterated their support for raising the target rate above 5% as soon as possible to show their determination to fight inflation. James Bullard, president of the St. Louis Fed, also expected the rate range to rise to 5.25%-5.50%, shocking the US bond market.

U.S. financial research firm Zero Hedge cited a recent analysis by Bill Gross on Jan. 21 that continued high U.S. inflation has hedged some of the gains in U.S. Treasuries as dollar interbank rates have risen, amounting to an implicit default. This allows large institutional investors in U.S. Treasuries, including China, Japan, Germany and others, to continue to sell U.S. Treasuries.


If you wish to contact the author of any reader submitted guest post, you can give us an email at and we’ll forward your request to the author.

All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.


Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.

Copyright © 2022 Dinar Chronicles



Please enter your comment!
Please enter your name here