A farewell from Russia

Russia to Lower U.S. Debt Holdings 

WSJ

By IRA IOSEBASHVILI

ST. PETERSBURG, Russia—Russia will likely continue lowering its U.S. debt holdings as Washington struggles to contain a budget deficit and bolster a tepid economic recovery, a top aide to President Dmitry Medvedev said Saturday.
"The share of our portfolio in U.S. instruments has gone down and probably will go down further," said Arkady Dvorkovich, chief economic aide to the president, told Dow Jones in an interview on the sidelines of the St. Petersburg International Economic Forum.
Russian holdings of U.S. Treasury securities fell to $125.4 billion in April 2011 from $176.3 billion in October 2010, Treasury Department data showed.
Asked if U.S. debt was as solid an investment now as it was 10 years ago, Mr. Dvorkovich said: "On an absolute basis, yes. On a relative basis, compared to other investments, of course not."
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Comment: Let the Fed hold the bag.