US Treasuries seen as a "mirage"

Former Chinese central bank adviser Yu Yongding
repeated his call for China to reduce its Treasury holdings amid an impasse among policy makers on raising the U.S. government’s debt limit.
“U.S. bonds are not safe, but people think they are safe,” Yu, a researcher at a Beijing institute under the Chinese Academy of Social Sciences, told reporters at a briefing in Mumbai, India, today. “That is a mirage.”