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But more participants in the Treasury market are seeing the end of Treasuries -- at least temporarily -- as inevitable.
These bonds, which offer investors higher rates than Treasury securities, pulled a lot of buyers out of Treasuries.
Money-market funds themselves hold another $338 billion of Treasuries.
Those figures include both government and private holders of Treasuries.
And constraining the supply of Treasuries brings its own problems.
"There's been a lot of buying of Treasuries.
So the Chinese government has said fairly little of late about its huge holdings of Treasuries.
Even while stocks generally dropped, the prices of Treasuries were volatile.
And remember that just a small fraction of Treasuries are owned by individual Americans.
This means these dividends are about 65 percent of the yield of Treasuries.
Data is expected to show that Japan's holdings of Treasuries have increased.
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