Central banks sell U.S. Treasuries amid Iran war

By Kate Duguid, Michelle Chan, and Ian Smith Financial Times, London Tuesday, March 31, 2026 Foreign central banks have slashed their holdings of Treasuries at the New York Federal Reserve to the lowest level since 2012, as countries sell the U.S. government bonds to prop up their economies and currencies in the wake of the Iran war. The value of Treasuries held in custody at the New York Fed by official institutions -- a group that is largely made up of central banks but also includes governments and international institutions -- has dropped by $82 billion since February 25 to $2.7 trillion, according to Fed data. ... Dispatch continues below ... ... ADVERTISEMENT ... Ultra-Secure Swiss Vault Storage from Tara Gold and Silver Ltd. Tara Gold is delighted to announce the launch of our ultra-secure gold and silver secure storage service. GATA followers can now own gold and silver coins and bars -- including the Gold and Silver Trees of Life — with fully segregated, allocated holdings in one of the safest vault providers in Switzerland and the world. All coins and bars are held in your name. Not a paper claim. Not someone else's liability. Real, physical precious metals you can visit, inspect, take delivery of, or sell at any time. Safety, Trust & Privacy: Our Swiss storage partner is Helveticor AG in Zurich. Tara Gold's Mark O'Byrne, after extensive international due diligence, served as Helveticor's global ambassador for two years and stores metal with them personally. He has known the owners and senior staff for 20 years and trusts their vaults implicitly. Your metals there are fully insured and held outside the banking system — no counterparty risk, no digital risk, and no fractional reserving, with complete discreetness and privacy. Liquidity: Switzerland is a primary hub for precious metals. You can sell quickly and competitively, with proceeds transferred directly to your bank account. Tax Efficiency: Gold and silver in Swiss-bonded vaults are exempt from sales taxes. You pay only if you remove bullion from Switzerland. For holdings of $100,000 or more, the combination of security, privacy, liquidity, and tax efficiency makes this a compelling international diversification. For rates, application forms, and all key information, visit here or contact GATA supporter Tara Gold and Silver Ltd.'s Mark O'Byrne at [email protected] or +353-12641850. The decline in these holdings since the war began a month ago highlights how the surge in energy prices triggered by Iran's closure of the Strait of Hormuz, a vital waterway, has upended the finances of countries that rely on oil imports, as well as boosting the dollar across the board. It also comes at a time when some central banks have intervened in foreign exchange markets to prop up their currencies, a move that typically involves selling U.S. dollars. ... ... For the remainder of the dispatch: https://www.ft.com/content/1c4189e9-36af-4779-b862-d868cf2aff76 * * * Support GATA by purchasing Stuart Englert's "Rigged" "Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon: https://tinyurl.com/3xt6uw66 * * * Help keep GATA going: GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 Donations of $500 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work: https://www.gata.org/sites/default/files/GATA-silver-round-front.png