The Selling Never Stopped…
When winter first begins to bite
and stones crack in the frosty night,
when pools are black and trees are bare,
’tis evil in the Wild to fare.
– J.R.R. Tolkien, The Fellowship of the Ring (1954)
Russia sold $81 billion of Treasury bonds and notes in recent months.
That pretty much empties its portfolio of U.S. government debt. Those holdings once wer...