ING says heavy tone in Treasuries has further to run as truce lapses

Foreign holdings of US Treasuries fell to $9.299 trillion in June, led by declines from Japan, the UK and China. ING says the heavy tone in Treasuries has further to run, citing a $72bn TIC-based liquidation, fading Iran de-escalation rhetoric, and issuance pressure, while flagging gradually tightening eurozone liquidity.