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 <p>The US dollar bonds are no longer attractive to <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> countries and broader Asian markets as sales nosedived in January 2024. Countries around the world are shying away from the US dollar as its debt has climbed above $34 trillion. Holding the US dollar in reserves for <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> and other Asian nations poses an equal threat, as a market downfall creates turmoil in their native economies. Asian countries are carrying the risk of US dollar debt default making the USD bond sales see the worst start this year since 2016.</p>
 <p><strong>Also Read: </strong><strong>34 Countries Look to Join <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Alliance After Saudi Arabia’s Entry</strong></p>
 <p>The less demand for US dollar bonds indicates that developing countries are fearing the mounting $34 trillion debt. The US debt is spiraling out of control and rising at an alarming rate and countries who keep the USD in reserves are at the receiving end. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.</p>
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 <p><strong>Also Read: </strong><strong><a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Control 47% of Global Oil, U.S. Owns Just 2.1%</strong></p>
 <h2 class="wp-block-heading" id="h-brics-us-dollar-bond-sales-experience-worst-start-in-asia-since-2016">BRICS: US Dollar Bond Sales Experience Worst Start in Asia Since 2016</h2>
 <figure class="wp-block-image size-full"><img decoding="async" width="1000" height="667" src="https://cdn.thebittimes.com/images/2024/02/02/9ca524a07c9d5c9d5cf9ecf97b5169ec.webp" alt="US Dollar USD Currency Greenback Bill BRICS" class="wp-image-119174" srcset="https://cdn.thebittimes.com/images/2024/02/02/9ca524a07c9d5c9d5cf9ecf97b5169ec.webp 1000w, https://cdn.thebittimes.com/images/2024/02/02/9ca524a07c9d5c9d5cf9ecf97b5169ec.webp 300w, https://cdn.thebittimes.com/images/2024/02/02/9ca524a07c9d5c9d5cf9ecf97b5169ec.webp 768w, https://cdn.thebittimes.com/images/2024/02/02/9ca524a07c9d5c9d5cf9ecf97b5169ec.webp 380w, https://cdn.thebittimes.com/images/2024/02/02/9ca524a07c9d5c9d5cf9ecf97b5169ec.webp 550w, https://cdn.thebittimes.com/images/2024/02/02/9ca524a07c9d5c9d5cf9ecf97b5169ec.webp 800w" sizes="(max-width: 1000px) 100vw, 1000px">
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 <p>The US Dollar bond sales in Asia are off to the weakest start in eight years, reported Bloomberg. Regional borrowers are now raising cheaper funds and the US dollar is becoming an expensive affair to developing countries. A decade ago, the US dollar bonds were the most sought-after investment from <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> and the broader Asian markets.</p>
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 <p><strong>Also Read: </strong><strong><a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>: Russia Settles 85% Trade in Local Currency, Sidelines US Dollar</strong></p>
 <p>The Federal Reserve’s cutting interest rates and the mounting $34 trillion debt make the US dollar bonds unappealing and repulsive. Asian borrowers are providing more incentives than the US dollar, which is now seen as a risk to further accumulate.</p>
 <p><strong>“As Central Banks paused rates in late 2023 and market expectations that the Fed may cut rates as soon as Q2 2024, some issuers may want to wait to issue at lower rates,”</strong> said Carinn Neo, Senior Portfolio Manager at Paragon Capital Management Singapore.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>BRICS</li>
  <li>US DOLLAR</li>
  <li>US Dollar Bonds</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/brics-no-demand-for-us-dollar-bonds-sales-get-worst-start-since-2016-tbt78664.html">https://thebittimes.com/brics-no-demand-for-us-dollar-bonds-sales-get-worst-start-since-2016-tbt78664.html</a></p>

BRICS: No Demand For US Dollar Bonds, Sales Get Worst Start Since 2016

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