Urgent 🚨🚨🚨

What's happening: China will start selling $138 billion of US Treasuries on Friday, according to Bloomberg. This is the first major sale of US Treasuries by China since August 2023. The sale will include 30-year bonds, with plans to sell 20- and 50-year bonds later this month. The sales come amid concerns about China's economic slowdown and a weakening yuan.

Potential impact:

The sales could lead to higher yields on US Treasuries.

They could also weaken the yuan against the US dollar.

They could have a negative impact on global financial markets.