Saudi Arabia Breaks Up With The US, Middle East Countries Follow Suit | Joins Forces With China

Saudi Arabia Breaks Up With The US, Middle East Countries Follow Suit | Joins Forces With China #saudiarabia #economy #market The global market has just been hit by an unexpected storm. In a move that has left analysts and economists in a fury, Saudi Arabia has unleashed a financial earthquake that’s shaking the very foundations of the world market. The Kingdom’s holdings of US Treasuries have plummeted to a jaw-dropping six-year low, signaling a groundbreaking push to diversify away from the once-dominant dollar. We’ve got all the juicy details from the expert, uncovering the twists and turns of this financial plot. But what does this mean for the global market, you ask? Will the dollar continue its dance, or is there a new tune on the horizon? The answers lie within this video, giving you a front-row seat to the evolution of international economics. If You Like This Video; Like, Share, Comment And Subscribe. This Means A Lot To Us! Thanks For Watching Our Video; Saudi Arabia Breaks Up With The US, Middle East Countries Follow Suit | Joins Forces With China Saudi Arabia has taken a notable step in the financial world by reducing its holdings of US Treasuries in June. This reduction marks the lowest level in over six years. Data from the US Treasury Department reveals that the kingdom held $108.1 billion of Treasury securities in June, a decrease of $3.2 billion from May and falling below the $119.7 billion it possessed at the close of the previous year. The breakdown of Saudi Arabia’s holdings indicates a distribution between long-term bonds valued at $ billion, making up 92.3% of the total, and short-term bonds valued at $ billion, comprising 7.7%. As of June 2023, Saudi Arabia ranked 18th among the major holders of US Treasury bonds. This move is part of a larger trend that has seen the UAE also divest itself of US treasury bonds, selling off $4 billion worth in June. This comes as the UAE continues its two-month streak of reducing its holdings of US government debt. Their holdings dropped from $69 billion in May to $65.2 billion in June, according to the monthly report from the US Treasury. Interestingly, Saudi Arabia’s fellow GCC members, Kuwait and Saudi Arabia have also been engaged in the sale of US treasury bonds in the recent past. In Saudi Arabia’s case, its US treasuries decreased to $108 billion as it offloaded $3.2 billion worth of holdings. Similarly, Kuwait’s share of US debt instruments decreased from $41.4 billion in May to $40.6 billion in June. While these shifts have occurred in the Gulf region, it’s worth noting that overall foreign holdings of US Treasuries saw an increase in June. This can be attributed in part to Japan, which raised its purchase from $ trillion in May to $ trillion. Japan remains the largest foreign holder of these bonds. This recent movement in the financial landscape demonstrates the evolving dynamics between nations and their investments, as well as the broader shifts in the global economy. In the month of June, the Gulf country decided to make a move with its US government debt. They sold off more than $3 billion worth of securities, and guess what? This isn’t the first time they’ve been on a selling spree - it’s their third consecutive month doing so. Their holdings now stand at $108.1 billion, according to the Treasury Department’s trusty data. The UAE wasn’t lagging either. They also put up nearly $4 billion worth of US government debt for sale. It seems like the Arab Gulf countries are onto something big. They’re venturing into new investment avenues, all in the quest for those sweet, sweet higher returns. Now, let’s talk about Saudi Arabia. They’ve been making waves in the financial waters. Their Treasury holdings have taken a dip of over 41% since early 2020. But they’re not just sitting around. Instead of putting all their eggs in one basket, they’ve been diversifying. They’ve been eyeing assets like Lucid Group, Uber Technologies, and even the world of football with Newcastle. And guess what’s driving this change? Well, there’s a bit of a buzz these days against the dominance of the US dollar. It’s like these countries are saying, This move by Saudi Arabia is like a pebble dropped in a pond, causing ripples that are making economies everywhere sit up and take notice. Picture this: the US dollar, usually standing tall and steady, is suddenly like a ’hot potato’ for Saudi Arabia. It’s as if they’ve decided to swiftly pass on a big chunk of their US Treasury investments. But let’s take a closer look, shall we? Thanks to the sharp insights from economic experts, we’re getting a front-row seat to Saudi Arabia’s carefully calculated financial strategy. This isn’t just a spur-of-the-moment move; it’s a meticulously planned dance they’re orchestrating with their US Treasuries holdings. More Details In The Video