Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Chinese and American leaders at the G20 in Buenos Aires last year. Photo: Saul Loeb/AFP/Getty Images

While some had suggested China could cut its purchases of U.S. Treasury bonds as a way to retaliate or escalate its trade war with the U.S., Fang Xinghai, the vice chairman of the China Securities Regulatory Commission, said such a move is unlikely.

Reality check: It was always a low probability event, as it would endanger China's economy as much or more than the U.S.

What they're saying: Fang told a World Economic Forum panel in Davos, Switzerland, that he doesn’t think his country "will in any way significantly reduce its investment into the U.S. government bond market."

  • China is America’s largest foreign creditor, holding more than $1.1 trillion of Treasuries.
  • Market participants have told Axios in recent weeks that strong U.S. Treasury note auctions could be due to China making a sizable return to the market, as direct bidders — a group made up of foreign buyers and U.S. institutions that don't do business directly with the Federal Reserve — have taken home particularly large slices of recent bond deals.

Worth noting: We don't know for certain whether the Chinese have been buying more Treasuries. The CFTC, which tracks international Treasury buying, has been closed due to the government shutdown, with the last report in December showing October's data.

Go deeper: The market rally that could signal a coming recession

Go deeper

Ina Fried, author of Login
38 mins ago - Technology

Google's parent shuts down effort to deliver internet via balloons

Image: Loon

Alphabet is shutting down Loon, one of its "moonshots," which aimed to deliver internet service via high-altitude balloons.

Why it matters: The effort was one of several approaches designed to get high-speed connectivity to some of the world's most remote spots and proved useful in the aftermath of disasters that shut down traditional infrastructure.

Dave Lawler, author of World
54 mins ago - World

What has and hasn't changed as Biden takes over U.S. foreign policy

Photo Illustration: Brendan Lynch/Axios. Photo: Chip Somodevilla/Getty Images

President Biden swiftly recommitted the U.S. to the Paris climate pact and the World Health Organization, but America's broader foreign policy is in a state of flux between the Trump and Biden eras.

Driving the news: One of the most striking moves from the Biden administration thus far was a show of continuity — concurring with the Trump administration's last-minute determination that China had committed "genocide" against Uyghur Muslims.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Health: New coronavirus cases down, but more bad news ahead — Fighting COVID-19's effects on gender equality.
  2. Politics: Biden unveils "wartime" COVID strategyBiden's COVID-19 bubble.
  3. Vaccine: NYC postpones vaccine appointments following shipment delays — Private companies step in to fill vaccine logistics vacuum.
  4. World: Biden will order U.S. to rejoin World Health OrganizationBiden to bring U.S. into global COVAX initiative for equitable vaccine access.