China Cuts U.S. Treasury Holdings for Third Straight Month, Hits 18-Year Low in April

China reduced its holdings of U.S. Treasuries for a third consecutive month, with the size of its holdings falling to an 18-year low in April, according to Ming Pao, citing the latest U.S. Treasury Department data. The report said the move reflects China’s continued push to diversify its foreign-exchange reserves amid rising geopolitical tensions and growing market concerns about the Federal Reserve’s independence.