In February 2026, the PBOC instructed its banks not to hold excessive US Treasury securities, which Macleod interprets as a signal to get rid of them entirely, not merely to reduce exposure modestly.
factualpending
Speaker
Alister MacleodEvidence Quote
“Back in I think it was in February, she told her banks um don't hold too many US treasuries. Now I think that's um if you like uh um a signal you know it's not just a question of don't hold us trespassor get rid of them [3:39]”
Created: 7/13/2026, 8:49:27 PM
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