Chinese banks step up U.S. Treasury purchases amid higher dollar deposits
People familiar with the matter say Chinese banks have bought U.S. Treasuries over the past few months after lifting dollar deposit rates, amid a spike in U.S. yields.
Chinese banks have been buying U.S.
Treasuries over the past few months after lifting dollar deposit rates, according to people familiar with the matter, moves that could help slow gains in the yuan and which come amid a spike in U.S. yields.The purchases, which have not been previously reported, r…