So central banks are selling. It is not clear, from my reading, who is buying. Hedge funds buying at a discount?
It’s a daisy chain, other central banks or more likely the Fed via proxy.
I am sure they are buying at a discount. I suspect that the central banks expect US interest rates to rise and they are getting out now while they can. In addition the are effectively forcing rates up faster. Obama’s debt binge is about to come home to roost.