The post Foreign official holdings of Treasuries hit 2024 low – ING appeared on BitcoinEthereumNews.com. US Treasuries held in custody at the Fed for foreign institutions have fallen to their lowest levels this year, down $100bn since April. While structural demand supports the Treasury market, ongoing foreign central bank selling may weigh on the US Dollar (USD), ING’s FX analyst Chris Turner notes. Fed custody data shows $100bn decline since April “We note the continued decline in the amount of US Treasuries held in custody by the Fed on behalf of foreign official institutions. “ “The weekly data released last night showed holdings dropping to the lowest levels of the year and down $100bn from early April. The US Treasury market, however, is doing fine, and one could argue that structural factors like adjustments to the Enhanced Supplementary Liquidity Ratio or the need to back Stablecoins with Treasury Bills are helping.” “Yet the Fed custody holdings data suggests that foreign central banks may be continuing to reduce US Treasuries and potentially dollar exposure, too, in their FX reserves. In other words, while the Treasury market may be ok in that the US private sector picks up the slack from foreign official sales, the impact on the dollar may still be negative.” Source: https://www.fxstreet.com/news/foreign-official-holdings-of-treasuries-hit-2024-low-ing-202508221002The post Foreign official holdings of Treasuries hit 2024 low – ING appeared on BitcoinEthereumNews.com. US Treasuries held in custody at the Fed for foreign institutions have fallen to their lowest levels this year, down $100bn since April. While structural demand supports the Treasury market, ongoing foreign central bank selling may weigh on the US Dollar (USD), ING’s FX analyst Chris Turner notes. Fed custody data shows $100bn decline since April “We note the continued decline in the amount of US Treasuries held in custody by the Fed on behalf of foreign official institutions. “ “The weekly data released last night showed holdings dropping to the lowest levels of the year and down $100bn from early April. The US Treasury market, however, is doing fine, and one could argue that structural factors like adjustments to the Enhanced Supplementary Liquidity Ratio or the need to back Stablecoins with Treasury Bills are helping.” “Yet the Fed custody holdings data suggests that foreign central banks may be continuing to reduce US Treasuries and potentially dollar exposure, too, in their FX reserves. In other words, while the Treasury market may be ok in that the US private sector picks up the slack from foreign official sales, the impact on the dollar may still be negative.” Source: https://www.fxstreet.com/news/foreign-official-holdings-of-treasuries-hit-2024-low-ing-202508221002

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more