China's holdings of US Treasuries fall by most since 2011

The latest data published by the PBOC overnight showed that China's holdings of US Treasuries continue to fall for the sixth straight month in Nov, marking the biggest drop since 2011.

China's US treasury securities holdings arrived at $1.049 trln in Nov vs $1.116 trln in Oct.

Markets believe PBOC is not selling treasuries, but burning through reserves to support the yuan.