Turkey has been quietly dumping US debt

Tatyana Zenkovich/Pool via REUTERS

• Turkey reduced its holdings of US debt by 12% between May and June.
• The sell-off came before the diplomatic spat between the US and Turkey.
• The news follows Russia’s sell-off of US Treasuries from $96.1 billion in March to an eleven year low of $14.9 billion in May.

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Turkey’s holdings of US sovereign debt dropped by 12% between May and June.

The country's US Treasury bond holdings fell to $28.8 billion in June from $32.6 billion the month before, Zero Hedge and RT reported. Since the end of last year, Turkey has reportedly liquidated 52% of its US bonds, bills, and notes.

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See Also:

• Russia is dumping US debt and buying gold instead
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• The Turkish lira has finally stabilised as Erdogan promises action against 'economic terrorists'

SEE ALSO: Russia is dumping US debt and buying gold instead

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