Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

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 Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

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!
Data: U.S. Treasury; Table: Naema Ahmed/Axios

Foreign holdings of U.S. Treasuries grew for a third straight month in July, rising to $7.087 trillion, data from the U.S. Treasury department showed on Wednesday.

Why it matters: Continued foreign buying shows that even as yields have been stuck at historic lows and Treasury issuance has skyrocketed with massive U.S. deficits to deal with the coronavirus pandemic, foreigners continue to up their buys. The strong buying trend has held even as China has cut back on its pace of bond buys from previous years and ceded its place as the top foreign holder of U.S. debt to Japan.

Go deeper

Dion Rabouin, author of Markets
Sep 29, 2020 - Economy & Business

China is attracting global investors' attention, boosting the yuan

Data: FactSet; Chart: Axios Visuals

The dollar strengthened against most of the world's currencies last week, as traders bought the greenback expecting an end to the reflation trade, but China's currency bucked the overall trend (pun intended) and is on pace for its strongest month against the dollar since 2008.

Why it matters: "What we do see is a strong Chinese economy, which is part of what’s behind the strong renminbi," Jason Brady, president and CEO of Thornburg Investment Management, told WSJ.

26 seconds ago - Politics & Policy

Wisconsin recount reaffirms Biden's victory in the state

Photo by Mark Makela/Getty Images

The two recounts in Wisconsin requested by the Trump campaign were completed Sunday and confirmed that President-elect Joe Biden won the state, the Washington Post reports.

Driving the news: Biden won Wisconsin by more than 20,000 votes. Recounts in the state's most populous and liberal areas — Dane and Milwaukee counties — netted him an additional 87 votes.

13 mins ago - Politics & Policy

Congressional Hispanics want Lujan Grisham at HHS

Michelle Lujan Grisham arriving on Capitol Hill. Photo: Tom Williams/CQ Roll Call

Hispanic lawmakers are openly lobbying to have New Mexico Governor Michelle Lujan Grisham be named Health and Human Services secretary, according to a letter obtained by Axios.

Why it matters: These members are now following the example some Black lawmakers have used for weeks: trying to convince Joe Biden his political interests will be served by rewarding certain demographic groups with Cabinet picks.