Apollo Academy
- China has sold $300 billion worth of US Treasurys since 2021, including $40 billion since April 2023.
- Apollo Global Management's chief economist suggested this could be a driver of spiking US bond yields.
- Economic woes have meant China has fewer dollars to recycle into US Treasurys, Torsten Sløk wrote.
US bond yields have been soaring recently, and one potential driver could be across the Pacific Ocean: China.
To be sure, US inflation remains above the Federal Reserve's comfort level, and central bankers have suggested more rate hikes are necessary, contributing to a sell-off in Treasurys.