China cut US Treasury holdings to an 18-year low while buying gold for 17+ straight months, reshaping global bond markets and reserve currency dynamics.

In May, central bank bought a whopping 81 tonnes of gold, with China the largest identifiable buyer at 48 tonnes, which was the biggest monthly total in over a year.

China cut US Treasury holdings to an 18-year low while buying gold for 17+ straight months, reshaping global bond markets and reserve currency dynamics.