China reportedly directs banks to cut US Treasury holdings—Peter Schiff warns of 'soaring' consumer prices

Chinese regulators have told financial institutions to limit their purchase of U.S. treasuries amid concentration risks and market volatility. Those with high exposure to the bonds have been advised to reduce their holdings, reported Bloomberg on Monday. Notably, the advice is not applicable to Chinese state holdings of U.S. government bonds. The publication reported that the directive had been issued to the financial institutions before the...