For the third month in a row.
The speculation will be that this is related to the tensions between China and the US. Do take note though that we’ve had concerns expressed on the falling holdings of USTs before and (so far) they have not amounted to much. China’s Treasury stash is still humongous (1.11 trillion USD worth, give or take).
Sure if China dump’s ’em all there will be bedlam. But so far they haven’t and it would be like shooting themselves in the foot were they to do so. So, while you will hear some scare stories, take them with a grain of salt.
Meanwhile, USD/JPY has dribbled a few tics lower.