Foreign inflows into U.S. Treasuries posted a record in the month of August, data from the U.S. Treasury department showed on Tuesday, as investors speculated about a pivot by the Federal Reserve away from aggressive tightening.
Data showed that foreign investors poured an all-time peak of $174.2 billion into U.S. Treasuries, up from $23 billion in July.
The foreign inflows, however, did not square up with the price action in Treasuries. The benchmark 10-year Treasury yield started August at 2.605% , and ended the month at 3.110%, or a 50 basis-point increase, suggesting that investors were selling Treasuries, not buying. And the yen has struggled mightily against a robust U.S. dollar that has surged due to the Fed's big rate hikes. So far this year, the yen has plunged nearly 23% against the greenback. For the month of August, the yen fell 4% against the dollar.
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