US losses its biggest ally 

By @ibtimes on

US's biggest ally which is China started to reduce their investments in the US bonds after the S&P downgraded the US's credit rating to (AA+) instead of (AAA) in last August after the concerns about the budget deficit increased.

China decided to cut its holding of US treasury bonds, where it reduced it from $37.637 billion in last August to reach $1.137 today, which means that china sold more than $36.5 billion in US treasures.

Additionally, this cutting and selling fever reached other countries in the region, where Taiwan, Singapore and Hong Kong also reduced their holdings of US Treasuries in August.

On the other side, other countries considering US treasury bonds as safe haven, where the United Kingdom and Switzerland have increased their investments by almost $40 billion each, also Japan increased its investment by $21.8bn to reach $936.8bn.

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