According to just released Treasury data, China, between its mainland and Euroclear holdings, sold a record $83 billion in Treasurys in the month of July.
The sale of $83 billion took place in July. This is before China announced its devaluation on August 11, which resulted in further liquidations.
Notes ZeroHedge: One can see why suddenly even PBOC official Jiao Jinpu said, earlier today, that the Chinese central bank sees "callenge from FX reserves drop."
There is a tipping point. At some point. Chinese selling will result in a significant climb in US interest rates.