Philippines May Cut US Treasury Holdings After Moody's Move
The Philippine central bank may consider reducing its holdings of US Treasuries after Moody's Ratings downgraded the US' credit score, according to Governor Eli Remolona.
'We're looking at it,' Remolona said when asked at a briefing on Friday if there's a chance the Philippines will start cutting its US treasuries as part of its reserves. 'It's one thing when other countries' debt is downgraded, but the US Treasuries, now that's a big thing.'
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